Inspire Investing LLC Purchases Shares of 81,457 Permian Resources Corporation $PR

Inspire Investing LLC purchased a new position in Permian Resources Corporation (NYSE:PR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 81,457 shares of the company’s stock, valued at approximately $1,737,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in Permian Resources by 69.2% in the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock worth $2,060,000 after acquiring an additional 61,230 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Permian Resources by 18.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock valued at $75,512,000 after acquiring an additional 852,347 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Permian Resources by 7.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock worth $16,751,000 after purchasing an additional 87,105 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Permian Resources by 340.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after purchasing an additional 3,224 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Permian Resources by 21.3% in the second quarter. Marshall Wace LLP now owns 93,507 shares of the company’s stock worth $1,274,000 after purchasing an additional 16,443 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In related 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 value of $1,282,998.36. Following the transaction, the executive vice president owned 542,503 shares in the company, valued at $11,088,761.32. This trade represents a 10.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PR. Benchmark lowered shares of Permian Resources from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Raymond James Financial lowered their price objective on shares of Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, June 17th. Weiss Ratings downgraded shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. Wells Fargo & Company set a $26.00 target price on shares of Permian Resources in a research report on Monday, May 25th. Finally, Morgan Stanley reduced their target price on Permian Resources from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.53.

Permian Resources Stock Down 0.2%

Shares of PR opened at $18.43 on Wednesday. The firm has a market cap of $15.44 billion, a P/E ratio of 21.44 and a beta of 0.48. The stock has a 50 day simple moving average of $19.87 and a two-hundred day simple moving average of $18.11. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. On average, analysts forecast that Permian Resources Corporation will post 1.97 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.64 annualized dividend and a dividend yield of 3.5%. Permian Resources’s dividend payout ratio (DPR) is currently 74.42%.

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.