Havemeyer Place LP Purchases New Stake in Permian Resources Corporation $PR

Havemeyer Place LP purchased a new stake in shares of Permian Resources Corporation (NYSE:PR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 97,830 shares of the company’s stock, valued at approximately $1,373,000.

Several other large investors have also recently bought and sold shares of the business. Westfield Capital Management Co. LP raised its position in Permian Resources by 77.2% during the fourth quarter. Westfield Capital Management Co. LP now owns 5,951,186 shares of the company’s stock valued at $83,495,000 after buying an additional 2,593,470 shares during the period. Vise Technologies Inc. increased its position in Permian Resources by 47.1% in the 4th quarter. Vise Technologies Inc. now owns 35,243 shares of the company’s stock worth $494,000 after purchasing an additional 11,292 shares during the last quarter. State of Wyoming increased its position in Permian Resources by 126.8% in 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. CIBC Asset Management Inc increased its position in Permian Resources by 43.2% in the 4th quarter. CIBC Asset Management Inc now owns 22,953 shares of the company’s stock worth $322,000 after purchasing an additional 6,926 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Permian Resources by 115.5% in the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock worth $352,906,000 after purchasing an additional 13,483,136 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Permian Resources news, Director Jeffrey Tepper sold 50,000 shares of Permian Resources stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $19.38, for a total value of $969,000.00. Following the completion of the transaction, the director owned 150,546 shares in the company, valued at approximately $2,917,581.48. The trade was a 24.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aron Marquez sold 7,750 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $19.62, for a total value of $152,055.00. Following the sale, the director 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 position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,438,198 shares of company stock worth $27,865,280. 5.00% of the stock is owned by company insiders.

Permian Resources Price Performance

Shares of NYSE:PR opened at $19.18 on Monday. 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 has a market capitalization of $16.06 billion, a PE ratio of 22.30 and a beta of 0.48. Permian Resources Corporation has a 1-year low of $11.92 and a 1-year high of $22.67. The business’s 50 day moving average is $20.50 and its 200-day moving average is $17.57.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business 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%.Permian Resources’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. Sell-side analysts predict that Permian Resources Corporation will post 2.01 earnings per share for the current year.

Permian Resources Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Roth Mkm reaffirmed a “neutral” rating and issued a $22.00 target price (up from $20.00) on shares of Permian Resources in a research report on Wednesday, April 8th. Citigroup increased their target price on Permian Resources from $21.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. UBS Group lifted their price objective on Permian Resources from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Mizuho lifted their price objective on Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Scotiabank lifted their price objective on Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and an average 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.