Intrepid Capital Management Inc. Invests $2.41 Million in Permian Resources Corporation $PR

Intrepid Capital Management Inc. purchased a new position in shares of Permian Resources Corporation (NYSE:PR) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 172,000 shares of the company’s stock, valued at approximately $2,413,000.

Other large investors also recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Permian Resources during the 4th quarter worth approximately $39,000. State of Wyoming increased its stake in shares of Permian Resources by 126.8% during the 4th quarter. State of Wyoming now owns 2,933 shares of the company’s stock worth $41,000 after purchasing an additional 1,640 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Permian Resources by 340.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after purchasing an additional 3,224 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Permian Resources during the 4th quarter worth approximately $60,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Permian Resources by 126.1% during the 4th quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company’s stock worth $62,000 after purchasing an additional 2,477 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Up 1.1%

PR opened at $19.48 on Friday. The company has a 50 day moving average of $20.32 and a 200 day moving average of $17.74. The company has a market cap of $16.31 billion, a PE ratio of 22.65 and a beta of 0.48. Permian Resources Corporation has a 12 month low of $11.92 and a 12 month high of $22.67. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31.

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

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.3%. Permian Resources’s dividend payout ratio (DPR) is 74.42%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 542,503 shares of the company’s stock, valued at $11,088,761.32. This trade represents a 10.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Aron Marquez sold 7,750 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $19.62, for a total transaction of $152,055.00. Following the completion of the transaction, the director directly owned 72,218 shares of the company’s stock, valued at approximately $1,416,917.16. The trade was a 9.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 588,198 shares of company stock valued at $11,576,280 in the last three months. Company insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Permian Resources from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Benchmark downgraded shares of Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. BMO Capital Markets raised shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Wells Fargo & Company set a $26.00 price objective on shares of Permian Resources in a report on Monday, May 25th. Finally, 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. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.69.

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.