First Eagle Investment Management LLC Sells 368,008 Shares of Permian Resources Corporation $PR

First Eagle Investment Management LLC trimmed its holdings in shares of Permian Resources Corporation (NYSE:PR) by 90.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,643 shares of the company’s stock after selling 368,008 shares during the quarter. First Eagle Investment Management LLC’s holdings in Permian Resources were worth $514,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in Permian Resources by 340.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after acquiring an additional 3,224 shares during the period. FNY Investment Advisers LLC bought a new position in Permian Resources during the fourth quarter worth about $60,000. Farther Finance Advisors LLC increased its position in Permian Resources by 126.1% during the fourth quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company’s stock worth $62,000 after acquiring an additional 2,477 shares during the period. LRI Investments LLC bought a new position in Permian Resources during the fourth quarter worth about $82,000. Finally, Allworth Financial LP increased its holdings in Permian Resources by 18.7% in the 3rd quarter. Allworth Financial LP now owns 6,445 shares of the company’s stock valued at $82,000 after buying an additional 1,015 shares during the period. 91.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

PR has been the subject of several analyst reports. KeyCorp initiated coverage on shares of Permian Resources in a research report on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 target price for the company. Royal Bank Of Canada increased their price target on shares of Permian Resources from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. TD Cowen increased their price target on shares of Permian Resources from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Zacks Research upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Wells Fargo & Company increased their price target on shares of Permian Resources from $21.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $22.38.

Permian Resources Trading Down 0.1%

Shares of Permian Resources stock opened at $20.22 on Friday. The firm has a market capitalization of $16.91 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 1.11 and a beta of 0.52. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $20.30 and its 200 day moving average is $16.76. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. Equities research analysts forecast that Permian Resources Corporation will post 1.97 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.64 annualized dividend and a dividend yield of 3.2%. Permian Resources’s payout ratio is 74.42%.

Insider Activity at Permian Resources

In related news, CEO James H. Walter sold 673,425 shares of Permian Resources stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 9,389,405 shares of the company’s stock, valued at approximately $172,577,263.90. The trade was a 6.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Aron Marquez sold 7,750 shares of Permian Resources stock in a transaction that occurred 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 sale, the director directly owned 72,218 shares in the company, valued at $1,416,917.16. This trade represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,130,066 shares of company stock worth $58,837,655 in the last ninety days. Insiders own 5.00% of the company’s stock.

Permian Resources 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.