Fox Run Management L.L.C. Purchases Shares of 55,541 Permian Resources Corporation $PR

Fox Run Management L.L.C. purchased a new position in Permian Resources Corporation (NYSE:PR) in the third quarter, HoldingsChannel.com reports. The firm purchased 55,541 shares of the company’s stock, valued at approximately $711,000.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in 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 in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Permian Resources by 18.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock worth $75,512,000 after purchasing an additional 852,347 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Permian Resources by 7.8% in the first 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 purchasing an additional 87,105 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Permian Resources by 2.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 66,512 shares of the company’s stock worth $906,000 after purchasing an additional 1,616 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Permian Resources by 1,113.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 54,015 shares of the company’s stock valued at $736,000 after purchasing an additional 49,562 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Permian Resources

In other Permian Resources news, CEO William M. Hickey III sold 467,725 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $6,375,091.75. Following the completion of the transaction, the chief executive officer owned 1,010,136 shares in the company, valued at $13,768,153.68. This trade represents a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James H. Walter sold 467,700 shares of Permian Resources stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total transaction of $6,374,751.00. Following the completion of the transaction, the chief executive officer directly owned 1,010,138 shares of the company’s stock, valued at $13,768,180.94. The trade was a 31.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,210,456 shares of company stock valued at $30,231,728 over the last quarter. 6.44% of the stock is currently owned by insiders.

Permian Resources Price Performance

NYSE:PR opened at $18.28 on Friday. The business’s 50-day moving average is $15.52 and its 200 day moving average is $14.20. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $18.58. The company has a market capitalization of $15.16 billion, a P/E ratio of 14.62 and a beta of 0.77. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.32 billion. Permian Resources had a return on equity of 10.97% and a net margin of 18.46%.The company’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, equities research analysts forecast that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.16 dividend. This is a boost from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, March 17th. Permian Resources’s dividend payout ratio (DPR) is presently 51.20%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating on shares of Permian Resources in a report on Monday, February 2nd. Morgan Stanley dropped their price objective on Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. TD Cowen upgraded Permian Resources to a “strong-buy” rating in a research report on Monday, February 9th. Bank of America reissued a “neutral” rating and issued a $16.00 price target (down from $17.00) on shares of Permian Resources in a report on Friday, January 16th. Finally, UBS Group upped their price target on Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.64.

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.