Quantitative Investment Management LLC Purchases Shares of 36,129 Permian Resources Corporation $PR

Quantitative Investment Management LLC acquired a new position in shares of Permian Resources Corporation (NYSE:PR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 36,129 shares of the company’s stock, valued at approximately $665,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Permian Resources by 4.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock worth $224,000 after buying an additional 607 shares in the last quarter. Bessemer Group Inc. lifted its stake in Permian Resources by 21.3% during the 1st quarter. Bessemer Group Inc. now owns 3,537 shares of the company’s stock valued at $76,000 after acquiring an additional 621 shares in the last quarter. Waterloo Capital L.P. lifted its stake in Permian Resources by 3.1% during the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock valued at $305,000 after acquiring an additional 657 shares in the last quarter. Dean Investment Associates LLC boosted its holdings in Permian Resources by 0.3% during the 4th quarter. Dean Investment Associates LLC now owns 265,615 shares of the company’s stock worth $3,727,000 after acquiring an additional 922 shares during the last quarter. Finally, Callahan Advisors LLC boosted its holdings in Permian Resources by 4.8% during the 4th quarter. Callahan Advisors LLC now owns 22,093 shares of the company’s stock worth $310,000 after acquiring an additional 1,004 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PR has been the topic of several analyst reports. Citigroup cut their price target on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Weiss Ratings raised shares of Permian Resources from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Wall Street Zen raised Permian Resources from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Roth Capital set a $23.00 price target on Permian Resources and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Zacks Research cut Permian Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $23.65.

Permian Resources Price Performance

Permian Resources stock opened at $23.80 on Wednesday. The stock has a market cap of $19.93 billion, a price-to-earnings ratio of 15.76 and a beta of 0.49. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $20.71 and a 200 day simple moving average of $20.07. Permian Resources Corporation has a 52 week low of $11.92 and a 52 week high of $24.09.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. Permian Resources had a net margin of 21.52% and a return on equity of 13.47%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company earned $0.28 EPS. The business’s quarterly revenue was up 55.1% compared to the same quarter last year. On average, research analysts forecast that Permian Resources Corporation will post 2.24 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Permian Resources’s dividend payout ratio (DPR) is 42.38%.

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.