AGF Management Ltd. Takes $2.43 Million Position in Permian Resources Corporation $PR

AGF Management Ltd. purchased a new position in Permian Resources Corporation (NYSE:PR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 189,816 shares of the company’s stock, valued at approximately $2,430,000.

Other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position in shares of Permian Resources by 18.0% in the third quarter. UMB Bank n.a. now owns 8,203 shares of the company’s stock valued at $105,000 after purchasing an additional 1,250 shares during the period. Ruffer LLP purchased a new position in Permian Resources in the 3rd quarter valued at about $2,608,000. Saxon Interests Inc. acquired a new stake in Permian Resources in the 3rd quarter worth about $216,000. Belpointe Asset Management LLC increased its stake in Permian Resources by 5.3% during the 3rd quarter. Belpointe Asset Management LLC now owns 38,186 shares of the company’s stock worth $489,000 after buying an additional 1,936 shares in the last quarter. Finally, Chilton Capital Management LLC raised its holdings in shares of Permian Resources by 3.5% during the third quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after acquiring an additional 800 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Trading Up 2.7%

PR opened at $16.58 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.31. The firm has a market cap of $13.75 billion, a P/E ratio of 15.21 and a beta of 0.77. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.73. The business has a fifty day simple moving average of $14.53 and a 200-day simple moving average of $13.76.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, November 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 15.65% and a return on equity of 11.03%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. On average, equities analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

PR has been the topic of a number of research analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $16.00 price target (down from $17.00) on shares of Permian Resources in a research note on Friday, January 16th. Susquehanna lowered their target price on shares of Permian Resources from $20.00 to $18.00 and set a “positive” rating on the stock in a research note on Monday, January 26th. Royal Bank Of Canada increased their target price 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. Weiss Ratings reissued a “hold (c)” rating on shares of Permian Resources in a research note on Monday, December 29th. Finally, Morgan Stanley dropped their price objective on shares of Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

Insider Transactions at Permian Resources

In other news, EVP Robert Regan Shannon sold 106,405 shares of the stock in a transaction 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 directly owned 360,667 shares in the company, valued at approximately $4,915,891.21. This trade represents a 22.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James H. Walter sold 467,700 shares of Permian Resources stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total value of $6,374,751.00. Following the completion of the transaction, the chief executive officer owned 1,010,138 shares of the company’s stock, valued at approximately $13,768,180.94. This trade represents a 31.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,210,456 shares of company stock valued at $30,231,728. 6.44% of the stock is owned by corporate insiders.

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.