Permian Resources Corporation $PR Shares Acquired by Entropy Technologies LP

Entropy Technologies LP increased its stake in Permian Resources Corporation (NYSE:PR) by 531.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 297,174 shares of the company’s stock after purchasing an additional 250,108 shares during the period. Entropy Technologies LP’s holdings in Permian Resources were worth $6,336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PR. SJS Investment Consulting Inc. grew its stake in Permian Resources by 1,862.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock worth $30,000 after buying an additional 1,341 shares during the last quarter. SHP Wealth Management bought a new stake in Permian Resources in the fourth quarter valued at $27,000. Cedar Mountain Advisors LLC bought a new stake in Permian Resources in the first quarter valued at $48,000. Los Angeles Capital Management LLC acquired a new position in shares of Permian Resources during the fourth quarter valued at $39,000. Finally, State of Wyoming boosted its holdings in shares of Permian Resources by 126.8% during the fourth quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after acquiring an additional 1,640 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Buying and Selling at Permian Resources

In other news, EVP Guy M. Oliphint sold 62,769 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the sale, the executive vice president directly owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. This represents a 10.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Permian Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. Truist Financial reduced their target price on shares of Permian Resources from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Mizuho upped their target price on shares of Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. UBS Group decreased their target price on shares of Permian Resources from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Finally, BMO Capital Markets upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Permian Resources presently has an average rating of “Buy” and a consensus price target of $23.29.

Permian Resources Trading Down 0.1%

NYSE:PR opened at $21.34 on Friday. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67. The stock has a market cap of $17.87 billion, a price-to-earnings ratio of 24.82 and a beta of 0.46. The business has a fifty day moving average of $19.51 and a 200-day moving average of $18.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66.

Permian Resources (NYSE:PR) last issued 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. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. Equities analysts predict that Permian Resources Corporation will post 1.94 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s payout ratio is 74.42%.

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.