Ruffer LLP Makes New Investment in Permian Resources Corporation $PR

Ruffer LLP purchased a new stake in shares of Permian Resources Corporation (NYSE:PR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 203,761 shares of the company’s stock, valued at approximately $2,608,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in shares of Permian Resources by 114.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock valued at $25,000 after buying an additional 1,047 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Permian Resources by 154.4% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock valued at $31,000 after acquiring an additional 1,391 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Permian Resources in the second quarter worth approximately $36,000. Parkside Financial Bank & Trust increased its stake in Permian Resources by 90.8% during the second quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after acquiring an additional 1,357 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Permian Resources in the second quarter valued at $54,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO James H. Walter sold 467,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $6,374,751.00. Following the transaction, the chief executive officer owned 1,010,138 shares of the company’s stock, valued at approximately $13,768,180.94. The trade was a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert Regan Shannon sold 106,405 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $1,450,300.15. Following the sale, the executive vice president owned 360,667 shares of the company’s stock, valued at $4,915,891.21. This trade represents a 22.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,210,456 shares of company stock valued at $30,231,728. Insiders own 12.80% of the company’s stock.

Analysts Set New Price Targets

PR has been the subject of a number of research analyst reports. Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Royal Bank Of Canada lifted their price target on shares of Permian Resources from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Zacks Research lowered shares of Permian Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Wells Fargo & Company increased their target price on Permian Resources from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Susquehanna decreased their price target on shares of Permian Resources from $20.00 to $18.00 and set a “positive” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and a consensus price target of $18.71.

Permian Resources Stock Up 1.7%

Shares of NYSE:PR opened at $15.56 on Thursday. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $15.57. The company has a market capitalization of $12.90 billion, a PE ratio of 14.27 and a beta of 0.66. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.31. The firm has a 50 day simple moving average of $14.32 and a 200-day simple moving average of $13.67.

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

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, December 17th. Permian Resources’s dividend payout ratio (DPR) is presently 55.05%.

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.