AlphaCore Capital LLC Has $6.88 Million Stock Holdings in Permian Resources Corporation $PR

AlphaCore Capital LLC decreased its stake in Permian Resources Corporation (NYSE:PR) by 36.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 537,228 shares of the company’s stock after selling 305,947 shares during the quarter. AlphaCore Capital LLC owned approximately 0.07% of Permian Resources worth $6,877,000 at the end of the most recent quarter.

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

Permian Resources Price Performance

NYSE PR opened at $17.66 on Thursday. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $18.16. The company has a fifty day simple moving average of $15.35 and a 200 day simple moving average of $14.13. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.31. The company has a market cap of $14.64 billion, a P/E ratio of 16.20 and a beta of 0.77.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Permian Resources had a net margin of 15.65% and a return on equity of 11.03%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business earned $0.36 EPS. The business’s revenue was down 9.8% on a year-over-year basis. On average, sell-side analysts predict that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s dividend payout ratio is currently 55.05%.

Insider Activity

In other news, CEO William M. Hickey III sold 467,725 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total transaction of $6,375,091.75. Following the completion of the transaction, the chief executive officer directly owned 1,010,136 shares in the company, valued at $13,768,153.68. The trade was a 31.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Regan Shannon sold 106,405 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 transaction of $1,450,300.15. Following the transaction, the executive vice president directly owned 360,667 shares in the company, valued at $4,915,891.21. This trade represents a 22.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,210,456 shares of company stock worth $30,231,728 over the last 90 days. Company insiders own 6.44% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PR shares. TD Cowen upgraded Permian Resources to a “strong-buy” rating in a report on Monday, February 9th. Mizuho boosted their target price on shares of Permian Resources from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Benchmark restated a “buy” rating on shares of Permian Resources in a research note on Monday, February 2nd. Bank of America reaffirmed a “neutral” rating and issued a $16.00 price objective (down from $17.00) on shares of Permian Resources in a research note on Friday, January 16th. Finally, The Goldman Sachs Group upped their price objective on shares of Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.71.

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.