Permian Resources Corporation $PR Shares Bought by Goehring & Rozencwajg Associates LLC

Goehring & Rozencwajg Associates LLC increased its holdings in Permian Resources Corporation (NYSE:PR) by 304.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,814,700 shares of the company’s stock after purchasing an additional 1,365,465 shares during the quarter. Permian Resources accounts for 2.1% of Goehring & Rozencwajg Associates LLC’s holdings, making the stock its 17th biggest position. Goehring & Rozencwajg Associates LLC’s holdings in Permian Resources were worth $38,689,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Permian Resources by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company’s stock worth $1,057,930,000 after buying an additional 3,941,318 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Permian Resources by 16.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock valued at $443,856,000 after buying an additional 4,533,732 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Permian Resources by 115.5% in the fourth quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after buying an additional 13,483,136 shares in the last quarter. State Street Corp lifted its position in shares of Permian Resources by 2.0% during the 4th quarter. State Street Corp now owns 23,553,393 shares of the company’s stock valued at $330,454,000 after acquiring an additional 460,158 shares during the last quarter. Finally, Boston Partners lifted its position in shares of Permian Resources by 76.2% during the 3rd quarter. Boston Partners now owns 17,350,663 shares of the company’s stock valued at $222,099,000 after acquiring an additional 7,503,654 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Stock Up 0.2%

Shares of Permian Resources stock opened at $19.62 on Thursday. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67. The company has a market cap of $16.43 billion, a P/E ratio of 22.82 and a beta of 0.46. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $19.44 and a 200 day moving average price of $18.48.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. As a group, analysts expect that Permian Resources Corporation will post 1.89 EPS for the current fiscal year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $0.16 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a yield of 3.3%. Permian Resources’s dividend payout ratio is presently 74.42%.

Insider Activity

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of Permian Resources stock in a transaction on 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 $11,088,761.32. This trade represents a 10.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 5.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. KeyCorp started coverage on Permian Resources in a research note on Tuesday, April 7th. They set an “overweight” rating and a $25.00 price objective for the company. Morgan Stanley reduced their target price on Permian Resources from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Zacks Research lowered Permian Resources from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. BMO Capital Markets raised Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Finally, Citigroup cut their price objective on Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $23.24.

About Permian Resources

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.