Regal Partners Ltd Buys New Shares in Permian Resources Corporation $PR

Regal Partners Ltd purchased a new stake in shares of Permian Resources Corporation (NYSE:PR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 31,991 shares of the company’s stock, valued at approximately $682,000.

Several other institutional investors have also recently made changes to their positions in PR. SHP Wealth Management purchased a new stake in Permian Resources in the 4th quarter worth approximately $27,000. SJS Investment Consulting Inc. boosted its position in shares of Permian Resources by 1,862.5% in the first quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock worth $30,000 after purchasing an additional 1,341 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Permian Resources in the fourth quarter worth $39,000. State of Wyoming raised its position in shares of Permian Resources by 126.8% during the 4th quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after purchasing an additional 1,640 shares during the period. Finally, Cedar Mountain Advisors LLC purchased a new position in shares of Permian Resources during the 1st quarter valued at $48,000. Institutional investors own 91.84% of the company’s stock.

Insider Activity at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s 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 completion of the transaction, the executive vice president directly owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Permian Resources Trading Down 2.3%

Shares of PR stock opened at $19.78 on Wednesday. Permian Resources Corporation has a 12-month low of $11.92 and a 12-month high of $22.67. 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’s 50-day moving average price is $19.47 and its 200-day moving average price is $18.90. The stock has a market capitalization of $16.56 billion, a price-to-earnings ratio of 23.00 and a beta of 0.46.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. Equities research analysts predict that Permian Resources Corporation will post 1.94 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s dividend payout ratio is currently 74.42%.

Analyst Ratings Changes

PR has been the subject of several recent analyst reports. Morgan Stanley dropped their target price on shares of Permian Resources from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Roth Capital set a $23.00 price objective on Permian Resources and gave the company a “buy” rating in a research report on Monday, June 22nd. Citigroup dropped their price objective on Permian Resources from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Mizuho increased their target price on Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, UBS Group decreased their target price on Permian Resources from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $23.29.

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.