Permian Resources Corporation $PR Shares Sold by South Street Advisors LLC

South Street Advisors LLC lessened its position in shares of Permian Resources Corporation (NYSE:PR) by 12.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 765,613 shares of the company’s stock after selling 108,730 shares during the period. Permian Resources makes up approximately 1.5% of South Street Advisors LLC’s investment portfolio, making the stock its 27th largest position. South Street Advisors LLC’s holdings in Permian Resources were worth $10,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PR. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Permian Resources in the 4th quarter valued at $90,000. Savant Capital LLC boosted its holdings in Permian Resources by 59.2% in the fourth quarter. Savant Capital LLC now owns 20,647 shares of the company’s stock worth $290,000 after purchasing an additional 7,680 shares during the period. Geode Capital Management LLC boosted its holdings in Permian Resources by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 13,291,523 shares of the company’s stock worth $186,534,000 after purchasing an additional 382,777 shares during the period. King Luther Capital Management Corp boosted its stake in Permian Resources by 2.8% in the fourth quarter. King Luther Capital Management Corp now owns 5,422,559 shares of the company’s stock valued at $76,079,000 after acquiring an additional 146,836 shares during the period. Finally, Steel Grove Capital Advisors LLC acquired a new position in shares of Permian Resources during the fourth quarter worth approximately $184,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Permian Resources

In other Permian Resources news, Director William J. Quinn sold 512,429 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $19.59, for a total value of $10,038,484.11. Following the sale, the director owned 6,914,410 shares of the company’s stock, valued at $135,453,291.90. The trade was a 6.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey Tepper sold 50,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $19.38, for a total transaction of $969,000.00. Following the completion of the sale, the director directly owned 150,546 shares in the company, valued at $2,917,581.48. This trade represents a 24.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,192,835 shares of company stock worth $60,120,653. 5.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PR. Citigroup upped their price objective on shares of Permian Resources from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $21.00 price objective on shares of Permian Resources in a report on Thursday, February 26th. BMO Capital Markets raised shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Roth Mkm restated a “neutral” rating and issued a $22.00 target price (up from $20.00) on shares of Permian Resources in a research report on Wednesday, April 8th. Finally, Royal Bank Of Canada upped their price target on shares of Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Permian Resources has an average rating of “Moderate Buy” and a consensus target price of $22.69.

Permian Resources Trading Up 0.0%

NYSE:PR opened at $19.33 on Friday. Permian Resources Corporation has a 12 month low of $11.92 and a 12 month high of $22.67. The firm has a market cap of $16.19 billion, a price-to-earnings ratio of 22.48 and a beta of 0.52. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $20.56 and its 200-day moving average is $17.30.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company posted $0.44 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts anticipate that Permian Resources Corporation will post 2 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, June 16th. Permian Resources’s payout ratio is currently 74.42%.

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.