Richard P Slaughter Associates Inc Has $4.33 Million Stock Position in Permian Resources Co. (NYSE:PR)

Richard P Slaughter Associates Inc increased its holdings in shares of Permian Resources Co. (NYSE:PR) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 301,003 shares of the company’s stock after buying an additional 3,474 shares during the quarter. Permian Resources accounts for approximately 1.0% of Richard P Slaughter Associates Inc’s holdings, making the stock its 23rd largest holding. Richard P Slaughter Associates Inc’s holdings in Permian Resources were worth $4,328,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Merewether Investment Management LP increased its holdings in Permian Resources by 148.1% during the 2nd quarter. Merewether Investment Management LP now owns 5,900,449 shares of the company’s stock worth $95,292,000 after purchasing an additional 3,522,300 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Permian Resources by 16,359.8% during the second quarter. Point72 Asset Management L.P. now owns 3,473,023 shares of the company’s stock worth $56,089,000 after buying an additional 3,451,923 shares in the last quarter. Yaupon Capital Management LP grew its holdings in shares of Permian Resources by 225.0% during the third quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock worth $51,016,000 after buying an additional 2,595,137 shares in the last quarter. Geode Capital Management LLC lifted its stake in Permian Resources by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock valued at $148,957,000 after acquiring an additional 1,638,618 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Permian Resources by 9.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock valued at $247,042,000 after acquiring an additional 1,543,854 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PR has been the topic of a number of research reports. UBS Group cut their price objective on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Truist Financial lifted their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley initiated coverage on Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Piper Sandler dropped their price objective on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company lowered their target price on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and an average target price of $19.06.

Insider Transactions at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.80% of the stock is owned by insiders.

Permian Resources Trading Up 0.6 %

PR stock opened at $15.48 on Wednesday. Permian Resources Co. has a 52 week low of $12.59 and a 52 week high of $18.28. The company has a market capitalization of $12.44 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.88 and a beta of 4.32. The company’s 50-day simple moving average is $14.86 and its 200 day simple moving average is $14.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business’s revenue was up 60.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. As a group, sell-side analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were paid a $0.15 dividend. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.88%. Permian Resources’s dividend payout ratio (DPR) is presently 36.36%.

About Permian Resources

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.