Intrepid Capital Management Inc. Invests $2.41 Million in Permian Resources Corporation $PR

Intrepid Capital Management Inc. acquired a new position in shares of Permian Resources Corporation (NYSE:PR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 172,000 shares of the company’s stock, valued at approximately $2,413,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PR. AQR Capital Management LLC raised its holdings in shares of Permian Resources by 69.2% in the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock worth $2,060,000 after acquiring an additional 61,230 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Permian Resources by 18.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock worth $75,512,000 after acquiring an additional 852,347 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Permian Resources by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock worth $16,751,000 after acquiring an additional 87,105 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Permian Resources by 340.8% in the 2nd 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 last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Permian Resources by 21.3% in the 2nd quarter. Marshall Wace LLP now owns 93,507 shares of the company’s stock worth $1,274,000 after acquiring an additional 16,443 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Up 1.1%

NYSE:PR opened at $19.48 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $16.31 billion, a price-to-earnings ratio of 22.65 and a beta of 0.48. Permian Resources Corporation has a 52 week low of $11.92 and a 52 week high of $22.67. The firm has a 50-day moving average price of $20.32 and a two-hundred day moving average price of $17.74.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.39 billion during 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 company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. On average, equities analysts expect that Permian Resources Corporation will post 2.01 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid 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 dividend payout ratio (DPR) is 74.42%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, Director William J. Quinn sold 512,429 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $19.59, for a total value of $10,038,484.11. Following the completion of the sale, the director owned 6,914,410 shares in the company, valued at approximately $135,453,291.90. This trade represents a 6.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Guy M. Oliphint sold 62,769 shares of the 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 completion of the sale, the executive vice president owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 588,198 shares of company stock worth $11,576,280. Insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PR shares. Roth Mkm restated a “neutral” rating and issued a $22.00 target price (up from $20.00) on shares of Permian Resources in a report on Wednesday, April 8th. Truist Financial upped their target price on shares of Permian Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. The Goldman Sachs Group upped their target price on shares of Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Scotiabank upped their target price on shares of Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, KeyCorp started coverage on shares of Permian Resources in a report on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.69.

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.