Signaturefd LLC Boosts Stock Position in Permian Resources Corporation $PR

Signaturefd LLC raised its position in shares of Permian Resources Corporation (NYSE:PR) by 23.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,224 shares of the company’s stock after purchasing an additional 2,358 shares during the quarter. Signaturefd LLC’s holdings in Permian Resources were worth $166,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Permian Resources by 376.7% during the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock valued at $29,000 after purchasing an additional 1,635 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Permian Resources during the 1st quarter valued at about $30,000. Keystone Global Partners LLC purchased a new stake in Permian Resources during the 1st quarter valued at about $36,000. Brooklyn Investment Group grew its stake in Permian Resources by 433.9% during the 1st quarter. Brooklyn Investment Group now owns 3,118 shares of the company’s stock valued at $43,000 after purchasing an additional 2,534 shares during the last quarter. Finally, Tsfg LLC purchased a new stake in Permian Resources during the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP Robert Regan Shannon sold 4,742 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total value of $67,431.24. Following the completion of the sale, the executive vice president owned 91,805 shares of the company’s stock, valued at approximately $1,305,467.10. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Charles Bell sold 4,743 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $14.21, for a total value of $67,398.03. Following the completion of the sale, the executive vice president directly owned 107,569 shares of the company’s stock, valued at approximately $1,528,555.49. This represents a 4.22% decrease in their position. The disclosure for this sale can be found here. 6.44% of the stock is owned by corporate insiders.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $12.56 on Friday. The business has a 50 day simple moving average of $13.63 and a two-hundred day simple moving average of $13.30. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.33. The stock has a market capitalization of $10.05 billion, a P/E ratio of 8.15 and a beta of 1.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.63 and a quick ratio of 0.63.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. As a group, analysts predict that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.8%. Permian Resources’s dividend payout ratio is presently 38.96%.

Wall Street Analysts Forecast Growth

PR has been the topic of a number of recent research reports. William Blair initiated coverage on Permian Resources in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research note on Tuesday, September 2nd. Raymond James Financial lowered their target price on Permian Resources from $23.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, September 2nd. TD Cowen upgraded Permian Resources to a “strong-buy” rating in a research note on Monday, July 7th. Finally, Susquehanna upped their target price on Permian Resources from $19.00 to $20.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $18.63.

About Permian Resources

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.