Lighthouse Investment Partners LLC Has $8.64 Million Stock Position in Permian Resources Corporation $PR

Lighthouse Investment Partners LLC lifted its holdings in shares of Permian Resources Corporation (NYSE:PR) by 200.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 675,000 shares of the company’s stock after acquiring an additional 450,000 shares during the period. Lighthouse Investment Partners LLC owned approximately 0.08% of Permian Resources worth $8,640,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Chilton Capital Management LLC boosted its stake in Permian Resources by 3.5% during the 3rd quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after purchasing an additional 800 shares during the last quarter. SCS Capital Management LLC raised its stake in shares of Permian Resources by 0.6% in the second quarter. SCS Capital Management LLC now owns 141,205 shares of the company’s stock worth $1,923,000 after purchasing an additional 870 shares during the last quarter. Inscription Capital LLC lifted its holdings in shares of Permian Resources by 3.5% in the third quarter. Inscription Capital LLC now owns 28,219 shares of the company’s stock valued at $361,000 after purchasing an additional 948 shares in the last quarter. Rothschild Investment LLC lifted its holdings in shares of Permian Resources by 7.1% in the third quarter. Rothschild Investment LLC now owns 14,651 shares of the company’s stock valued at $188,000 after purchasing an additional 974 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Permian Resources by 3.8% during the second quarter. ProShare Advisors LLC now owns 28,278 shares of the company’s stock valued at $385,000 after buying an additional 1,025 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Performance

Shares of PR opened at $19.34 on Monday. The stock has a 50 day moving average of $16.49 and a 200 day moving average of $14.58. The company has a market capitalization of $16.04 billion, a price-to-earnings ratio of 15.47 and a beta of 0.66. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $19.64. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business’s revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.16 dividend. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.3%. Permian Resources’s payout ratio is presently 48.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PR shares. The Goldman Sachs Group increased their price target on Permian Resources from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Benchmark downgraded shares of Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Morgan Stanley reduced their target price on shares of Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Royal Bank Of Canada increased their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Finally, TD Cowen raised shares of Permian Resources to a “strong-buy” rating in a research report on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.42.

Insider Activity at Permian Resources

In other Permian Resources news, EVP Guy M. Oliphint sold 172,904 shares of Permian Resources stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total value of $2,356,681.52. Following the sale, the executive vice president owned 616,683 shares of the company’s stock, valued at approximately $8,405,389.29. The trade was a 21.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James H. Walter sold 673,425 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total transaction of $12,377,551.50. Following the completion of the transaction, the chief executive officer owned 9,389,405 shares in the company, valued at approximately $172,577,263.90. The trade was a 6.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,765,093 shares of company stock valued at $77,807,101 in the last 90 days. 12.80% of the stock is currently owned by company insiders.

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.