Permian Resources Corporation $PR Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC lowered its position in Permian Resources Corporation (NYSE:PR) by 29.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 404,651 shares of the company’s stock after selling 165,997 shares during the period. First Eagle Investment Management LLC owned 0.05% of Permian Resources worth $5,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PR. Chilton Capital Management LLC raised its position in shares of Permian Resources by 3.5% in the third quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after buying an additional 800 shares during the last quarter. SCS Capital Management LLC grew its stake in Permian Resources by 0.6% during the 2nd quarter. SCS Capital Management LLC now owns 141,205 shares of the company’s stock valued at $1,923,000 after acquiring an additional 870 shares in the last quarter. Inscription Capital LLC raised its holdings in Permian Resources by 3.5% in the 3rd quarter. Inscription Capital LLC now owns 28,219 shares of the company’s stock valued at $361,000 after acquiring an additional 948 shares during the last quarter. Rothschild Investment LLC lifted its stake in Permian Resources by 7.1% in the 3rd quarter. Rothschild Investment LLC now owns 14,651 shares of the company’s stock worth $188,000 after purchasing an additional 974 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Permian Resources by 3.8% during the 2nd quarter. ProShare Advisors LLC now owns 28,278 shares of the company’s stock worth $385,000 after purchasing an additional 1,025 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Up 0.8%

Shares of PR opened at $18.53 on Thursday. The company’s 50-day moving average price is $15.79 and its 200 day moving average price is $14.31. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $19.38. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.31. The firm has a market cap of $15.37 billion, a P/E ratio of 14.82 and a beta of 0.66.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. On average, sell-side analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 3.5%. Permian Resources’s dividend payout ratio is presently 48.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PR. Piper Sandler cut their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Permian Resources in a research note on Monday, December 29th. Zacks Research upgraded Permian Resources from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 18th. Morgan Stanley lowered their price target on shares of Permian Resources from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Finally, Susquehanna cut their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “positive” rating for the company in a research report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.92.

Insider Activity at Permian Resources

In related news, EVP Guy M. Oliphint sold 172,904 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $2,356,681.52. Following the sale, the executive vice president owned 616,683 shares in the company, valued at approximately $8,405,389.29. The trade was a 21.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James H. Walter sold 467,700 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total value of $6,374,751.00. Following the transaction, the chief executive officer owned 1,010,138 shares of the company’s stock, valued at $13,768,180.94. This trade represents a 31.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,210,456 shares of company stock valued at $30,231,728 over the last ninety days. 6.44% of the stock is owned by insiders.

About Permian Resources

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.