Ruffer LLP Acquires Shares of 203,761 Permian Resources Corporation $PR

Ruffer LLP bought a new position in shares of Permian Resources Corporation (NYSE:PR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 203,761 shares of the company’s stock, valued at approximately $2,608,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Permian Resources by 69.2% during the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock worth $2,060,000 after purchasing an additional 61,230 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Permian Resources by 18.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock valued at $75,512,000 after buying an additional 852,347 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Permian Resources by 7.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock valued at $16,751,000 after buying an additional 87,105 shares during the period. Signaturefd LLC raised its holdings in shares of Permian Resources by 23.9% in the second quarter. Signaturefd LLC now owns 12,224 shares of the company’s stock valued at $166,000 after acquiring an additional 2,358 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in Permian Resources by 3.4% in the second quarter. Truist Financial Corp now owns 205,322 shares of the company’s stock worth $2,796,000 after acquiring an additional 6,665 shares during the period. Institutional investors own 91.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Zacks Research lowered shares of Permian Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Permian Resources in a research note on Monday, December 29th. Morgan Stanley lowered their target price on Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Piper Sandler cut their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Finally, Royal Bank Of Canada boosted their price target on Permian Resources from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and an average price target of $18.71.

Permian Resources Price Performance

NYSE PR opened at $15.56 on Thursday. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $15.57. The company has a market cap of $12.90 billion, a price-to-earnings ratio of 14.27 and a beta of 0.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s fifty day moving average price is $14.32 and its 200 day moving average price is $13.67.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. As a group, equities research analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.9%. Permian Resources’s payout ratio is currently 55.05%.

Insider Activity at Permian Resources

In other Permian Resources news, EVP Robert Regan Shannon sold 106,405 shares of the 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 $1,450,300.15. Following the completion of the transaction, the executive vice president owned 360,667 shares of the company’s stock, valued at $4,915,891.21. This represents a 22.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William M. Hickey III sold 467,725 shares of Permian Resources stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $6,375,091.75. Following the completion of the sale, the chief executive officer directly owned 1,010,136 shares in the company, valued at $13,768,153.68. This represents a 31.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,210,456 shares of company stock worth $30,231,728 in the last quarter. Corporate insiders own 12.80% of the company’s stock.

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.