Waratah Capital Advisors Ltd. Purchases 87,392 Shares of Permian Resources Corporation $PR

Waratah Capital Advisors Ltd. raised its holdings in shares of Permian Resources Corporation (NYSE:PR) by 16.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 612,392 shares of the company’s stock after purchasing an additional 87,392 shares during the quarter. Waratah Capital Advisors Ltd. owned 0.08% of Permian Resources worth $8,341,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PR. Bank of New York Mellon Corp increased its position in shares of Permian Resources by 86.8% during the second quarter. Bank of New York Mellon Corp now owns 23,963,307 shares of the company’s stock worth $326,380,000 after acquiring an additional 11,133,354 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Permian Resources by 19.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,099,726 shares of the company’s stock worth $195,276,000 after purchasing an additional 2,286,363 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Permian Resources in the first quarter worth approximately $175,525,000. Boston Partners purchased a new stake in shares of Permian Resources in the second quarter worth approximately $134,119,000. Finally, Invesco Ltd. lifted its holdings in shares of Permian Resources by 8.9% in the first quarter. Invesco Ltd. now owns 8,622,575 shares of the company’s stock valued at $119,423,000 after purchasing an additional 701,825 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

Permian Resources Price Performance

PR opened at $13.65 on Friday. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $16.33. The firm has a 50-day moving average of $12.96 and a 200 day moving average of $13.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $11.32 billion, a P/E ratio of 12.52 and a beta of 1.31.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.22). Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm posted $0.53 EPS. The business’s revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $0.60 annualized dividend and a yield of 4.4%. Permian Resources’s dividend payout ratio is presently 55.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PR shares. Raymond James Financial decreased their price target on Permian Resources from $23.00 to $22.00 and set a “strong-buy” rating for the company in a report on Tuesday, September 2nd. Scotiabank began coverage on shares of Permian Resources in a report on Friday, September 19th. They issued a “sector outperform” rating and a $21.00 target price for the company. Weiss Ratings lowered shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Morgan Stanley upped their price objective on shares of Permian Resources from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Finally, Mizuho decreased their price objective on shares of Permian Resources from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and an average price target of $18.87.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,743 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total value of $67,398.03. Following the completion of the sale, the executive vice president directly owned 107,569 shares of the company’s stock, valued at $1,528,555.49. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert Regan Shannon sold 4,742 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $14.22, for a total value of $67,431.24. Following the completion of the sale, the executive vice president owned 91,805 shares in the company, valued at approximately $1,305,467.10. The trade was a 4.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.44% of the stock is currently owned by corporate insiders.

Permian Resources Company Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.