Gator Capital Management LLC Takes $1.23 Million Position in Permian Resources Corporation $PR

Gator Capital Management LLC acquired a new stake in Permian Resources Corporation (NYSE:PR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 87,430 shares of the company’s stock, valued at approximately $1,227,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quadrant Capital Group LLC lifted its stake in Permian Resources by 35.4% in the fourth quarter. Quadrant Capital Group LLC now owns 36,743 shares of the company’s stock worth $516,000 after acquiring an additional 9,598 shares during the last quarter. CI Investments Inc. lifted its stake in Permian Resources by 46.8% in the fourth quarter. CI Investments Inc. now owns 11,427 shares of the company’s stock worth $160,000 after acquiring an additional 3,643 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in Permian Resources by 43.2% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 55,071 shares of the company’s stock worth $773,000 after acquiring an additional 16,618 shares during the last quarter. DRW Securities LLC lifted its stake in Permian Resources by 50.0% in the fourth quarter. DRW Securities LLC now owns 23,294 shares of the company’s stock worth $327,000 after acquiring an additional 7,765 shares during the last quarter. Finally, Brooklyn Investment Group lifted its stake in Permian Resources by 103.4% in the fourth quarter. Brooklyn Investment Group now owns 59,859 shares of the company’s stock worth $833,000 after acquiring an additional 30,432 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director Aron Marquez sold 7,750 shares of Permian Resources stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $19.62, for a total transaction of $152,055.00. Following the completion of the transaction, the director owned 72,218 shares of the company’s stock, valued at $1,416,917.16. The trade was a 9.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Guy M. Oliphint sold 62,769 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the completion of the sale, the executive vice president owned 542,503 shares in the company, valued at $11,088,761.32. This represents a 10.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 588,198 shares of company stock worth $11,576,280. 5.00% of the stock is owned by company insiders.

Permian Resources Stock Performance

NYSE:PR opened at $19.48 on Friday. The firm’s fifty day moving average price is $20.32 and its 200 day moving average price is $17.74. Permian Resources Corporation has a 1-year low of $11.92 and a 1-year high of $22.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $16.31 billion, a price-to-earnings ratio of 22.65 and a beta of 0.48.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the firm posted $0.44 EPS. Permian Resources’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts expect that Permian Resources Corporation will post 2.01 EPS for the current year.

Permian Resources Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Permian Resources in a research note on Friday, March 27th. KeyCorp assumed coverage on shares of Permian Resources in a research note on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 price target for the company. Weiss Ratings downgraded shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. Mizuho lifted their price target on shares of Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Benchmark cut shares of Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.69.

Permian Resources Profile

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.