Inceptionr LLC Invests $1.30 Million in Permian Resources Corporation $PR

Inceptionr LLC acquired a new stake in Permian Resources Corporation (NYSE:PR) in the first quarter, HoldingsChannel.com reports. The firm acquired 60,854 shares of the company’s stock, valued at approximately $1,297,000.

Several other institutional investors have also recently added to or reduced their stakes in PR. SJS Investment Consulting Inc. boosted its stake in Permian Resources by 1,862.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock worth $30,000 after buying an additional 1,341 shares during the last quarter. SHP Wealth Management acquired a new position in shares of Permian Resources during the 4th quarter valued at about $27,000. Cedar Mountain Advisors LLC acquired a new position in shares of Permian Resources during the 1st quarter valued at about $48,000. Los Angeles Capital Management LLC purchased a new position in shares of Permian Resources during the 4th quarter worth about $39,000. Finally, State of Wyoming lifted its holdings in shares of Permian Resources by 126.8% during the 4th quarter. State of Wyoming now owns 2,933 shares of the company’s stock worth $41,000 after acquiring an additional 1,640 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PR has been the subject of a number of recent analyst reports. Raymond James Financial lowered their target price on shares of Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, June 17th. Morgan Stanley cut their price target on shares of Permian Resources from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Wells Fargo & Company set a $26.00 price objective on shares of Permian Resources in a research note on Monday, May 25th. Roth Capital set a $23.00 price objective on Permian Resources and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Citigroup cut their target price on Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.29.

Permian Resources Trading Down 0.2%

Shares of PR stock opened at $21.35 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31. Permian Resources Corporation has a fifty-two week low of $11.92 and a fifty-two week high of $22.67. The firm’s 50 day moving average price is $19.50 and its two-hundred day moving average price is $18.75. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 24.83 and a beta of 0.46.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The company 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 business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, analysts anticipate that Permian Resources Corporation will post 1.94 EPS for the current year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s dividend payout ratio is currently 74.42%.

Insider Buying and Selling

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the transaction, the executive vice president directly owned 542,503 shares of the company’s stock, valued at $11,088,761.32. This trade represents a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.00% of the stock is owned by company insiders.

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.