194,490 Shares in Permian Resources Corporation $PR Bought by Readystate Asset Management LP

Readystate Asset Management LP bought a new stake in Permian Resources Corporation (NYSE:PR) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 194,490 shares of the company’s stock, valued at approximately $4,147,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SHP Wealth Management acquired a new stake in Permian Resources during the 4th quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its stake in shares of Permian Resources by 1,862.5% during the first quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock valued at $30,000 after acquiring an additional 1,341 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Permian Resources during the fourth quarter worth $39,000. State of Wyoming grew its stake in shares of Permian Resources by 126.8% in the fourth 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. Finally, Cedar Mountain Advisors LLC bought a new stake in shares of Permian Resources in the 1st quarter valued at about $48,000. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $19.78 on Wednesday. Permian Resources Corporation has a 12-month low of $11.92 and a 12-month high of $22.67. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $19.47 and its two-hundred day simple moving average is $18.90. The firm has a market cap of $16.56 billion, a PE ratio of 23.00 and a beta of 0.46.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.53% and a net margin of 12.79%.The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. As a group, equities analysts expect that Permian Resources Corporation will post 1.94 EPS for the current year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is currently 74.42%.

Analyst Ratings Changes

A number of brokerages have commented on PR. Mizuho upped their price target on shares of Permian Resources from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Citigroup dropped their price target on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Scotiabank boosted their price objective on Permian Resources from $21.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Evercore started coverage on shares of Permian Resources in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $25.00 price objective on the stock. Finally, Truist Financial dropped their price objective on shares of Permian Resources from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, July 13th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $23.29.

Insider Buying and Selling at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the transaction, the executive vice president owned 542,503 shares in the company, valued at $11,088,761.32. The trade was a 10.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.