GSA Capital Partners LLP Takes Position in Permian Resources Co. (NYSE:PR)

GSA Capital Partners LLP acquired a new position in Permian Resources Co. (NYSE:PR) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 83,302 shares of the company’s stock, valued at approximately $1,134,000.

A number of other large investors have also recently added to or reduced their stakes in PR. Entropy Technologies LP raised its position in Permian Resources by 46.3% during the third quarter. Entropy Technologies LP now owns 103,289 shares of the company’s stock worth $1,406,000 after acquiring an additional 32,686 shares during the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in shares of Permian Resources during the 3rd quarter worth approximately $220,000. TimesSquare Capital Management LLC raised its position in shares of Permian Resources by 25.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 3,939,985 shares of the company’s stock worth $53,623,000 after purchasing an additional 791,005 shares during the last quarter. Legacy Capital Wealth Partners LLC acquired a new position in shares of Permian Resources during the 3rd quarter worth approximately $247,000. Finally, Sigma Planning Corp lifted its stake in Permian Resources by 21.7% in the 3rd quarter. Sigma Planning Corp now owns 22,221 shares of the company’s stock valued at $302,000 after buying an additional 3,967 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Trading Up 1.3 %

Shares of PR opened at $15.18 on Friday. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The firm has a market capitalization of $12.18 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 0.91 and a beta of 4.34. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $14.00 and its 200 day simple moving average is $15.03.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the business posted $0.36 EPS. The company’s quarterly revenue was up 60.3% compared to the same quarter last year. On average, equities research analysts forecast 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 will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.95%. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio is currently 14.55%.

Insider Buying and Selling at Permian Resources

In other news, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the transaction, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. The trade was a 7.28 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Susquehanna dropped their price target on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Truist Financial lifted their price objective on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Benchmark reduced their target price on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a report on Monday, October 14th. Finally, Wells Fargo & Company cut their price objective on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.87.

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.