American Trust Purchases New Position in Permian Resources Co. (NASDAQ:PR)

American Trust purchased a new stake in shares of Permian Resources Co. (NASDAQ:PR – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,567 shares of the company’s stock, valued at approximately $153,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PR. Riverstone Holdings LLC bought a new stake in Permian Resources in the 3rd quarter worth approximately $468,238,000. Vanguard Group Inc. bought a new stake in Permian Resources in the 3rd quarter worth approximately $112,804,000. State Street Corp bought a new stake in Permian Resources in the 3rd quarter worth approximately $100,979,000. Dimensional Fund Advisors LP bought a new stake in Permian Resources in the 3rd quarter worth approximately $89,649,000. Finally, River Road Asset Management LLC bought a new stake in Permian Resources in the 3rd quarter worth approximately $55,897,000. Institutional investors own 88.44% of the company’s stock.

Permian Resources Stock Performance

PR opened at $9.34 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 0.77. Permian Resources Co. has a fifty-two week low of $5.08 and a fifty-two week high of $12.05. The company’s fifty day moving average price is $10.37. The stock has a market cap of $5.22 billion, a PE ratio of 5.80 and a beta of 4.54.

Permian Resources (NASDAQ:PR – Get Rating) last released its earnings results on Wednesday, February 22nd. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $761.56 million for the quarter, compared to analysts’ expectations of $736.00 million. Permian Resources had a net margin of 24.17% and a return on equity of 13.79%. On average, equities research analysts predict that Permian Resources Co. will post 2.09 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, March 7th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.14%. The ex-dividend date was Monday, March 6th. Permian Resources’s payout ratio is currently 12.42%.

Analyst Ratings Changes

A number of research firms have commented on PR. Piper Sandler lifted their target price on shares of Permian Resources from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 7th. Cowen raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Wednesday, March 1st. TD Cowen raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Wednesday, March 1st. Susquehanna boosted their price objective on shares of Permian Resources from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, February 27th. Finally, Cowen raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Wednesday, March 1st. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Insiders Place Their Bets

In other Permian Resources news, COO Matthew R. Garrison sold 40,000 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $12.00, for a total value of $480,000.00. Following the sale, the chief operating officer now owns 1,062,985 shares in the company, valued at approximately $12,755,820. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Silver Run Sponsor, Llc sold 14,320,070 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $10.70, for a total transaction of $153,224,749.00. Following the sale, the director now directly owns 58,227,600 shares in the company, valued at approximately $623,035,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Matthew R. Garrison sold 40,000 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $12.00, for a total transaction of $480,000.00. Following the sale, the chief operating officer now owns 1,062,985 shares in the company, valued at $12,755,820. The disclosure for this sale can be found here. Insiders have sold a total of 31,665,000 shares of company stock worth $338,867,500 in the last 90 days. 29.20% of the stock is currently owned by corporate insiders.

Permian Resources Company Profile

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Permian Resources Corp. engages in the exploration and production of oil and natural gas. It also focuses on driving sustainable returns through the responsible acquisition, optimization, and development of crude oil. The company was founded on October 6, 2014 and is headquartered in Midland, TX.