Sharpepoint LLC Buys 30,691 Shares of Permian Resources Corporation $PR

Sharpepoint LLC grew its stake in shares of Permian Resources Corporation (NYSE:PR) by 23.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,151 shares of the company’s stock after buying an additional 30,691 shares during the period. Permian Resources makes up 1.4% of Sharpepoint LLC’s portfolio, making the stock its 27th biggest position. Sharpepoint LLC’s holdings in Permian Resources were worth $2,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Permian Resources by 4.0% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock valued at $224,000 after buying an additional 607 shares in the last quarter. Waterloo Capital L.P. increased its position in shares of Permian Resources by 3.1% in the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock valued at $305,000 after buying an additional 657 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Permian Resources by 5.4% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock valued at $192,000 after buying an additional 706 shares in the last quarter. Curated Wealth Partners LLC increased its position in shares of Permian Resources by 1.1% in the 4th quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after buying an additional 747 shares in the last quarter. Finally, Callahan Advisors LLC increased its position in shares of Permian Resources by 4.8% in the 4th quarter. Callahan Advisors LLC now owns 22,093 shares of the company’s stock valued at $310,000 after buying an additional 1,004 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Analysts Set New Price Targets

PR has been the subject of a number of recent analyst reports. Scotiabank upped their price objective on shares of Permian Resources from $21.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company set a $26.00 price objective on Permian Resources in a report on Monday, May 25th. Zacks Research cut Permian Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Truist Financial lifted their price objective on Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Finally, Benchmark cut Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Three equities research 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 data from MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and an average price target of $22.69.

Permian Resources Trading Up 3.1%

NYSE:PR opened at $19.79 on Thursday. Permian Resources Corporation has a fifty-two week low of $11.92 and a fifty-two week 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 stock has a market capitalization of $16.57 billion, a PE ratio of 23.02 and a beta of 0.48. The business’s 50-day simple moving average is $20.38 and its 200-day simple moving average is $17.69.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $0.44 EPS. Permian Resources’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts expect that Permian Resources Corporation will post 2.01 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.2%. Permian Resources’s payout ratio is presently 74.42%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, Director William J. Quinn sold 512,429 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was 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 in the company, valued at approximately $135,453,291.90. The trade was a 6.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aron Marquez sold 7,750 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $19.62, for a total value of $152,055.00. Following the completion of the sale, the director owned 72,218 shares in the company, valued at $1,416,917.16. The trade was a 9.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 588,198 shares of company stock worth $11,576,280. Corporate insiders own 5.00% of the company’s stock.

Permian Resources Company 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.