Inspire Investing LLC Buys 13,839 Shares of Permian Resources Co. (NASDAQ:PR)

Inspire Investing LLC raised its stake in shares of Permian Resources Co. (NASDAQ:PR) by 27.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,969 shares of the company’s stock after buying an additional 13,839 shares during the period. Inspire Investing LLC’s holdings in Permian Resources were worth $1,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. XTX Topco Ltd grew its stake in shares of Permian Resources by 723.1% during the 2nd quarter. XTX Topco Ltd now owns 151,610 shares of the company’s stock valued at $2,449,000 after purchasing an additional 133,190 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Permian Resources by 1.2% in the second quarter. First Eagle Investment Management LLC now owns 753,775 shares of the company’s stock worth $12,173,000 after buying an additional 8,694 shares during the last quarter. Seven Eight Capital LP bought a new stake in Permian Resources during the second quarter valued at approximately $1,762,000. Waterloo Capital L.P. increased its holdings in Permian Resources by 32.2% during the second quarter. Waterloo Capital L.P. now owns 23,884 shares of the company’s stock valued at $386,000 after buying an additional 5,818 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in Permian Resources by 17.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 38,574 shares of the company’s stock worth $623,000 after acquiring an additional 5,680 shares during the period. 91.84% of the stock is owned by institutional investors.

Permian Resources Stock Performance

Shares of NASDAQ PR opened at $14.02 on Friday. The firm’s fifty day moving average is $14.61 and its two-hundred day moving average is $15.86. Permian Resources Co. has a 52-week low of $12.34 and a 52-week high of $18.28. The company has a market cap of $11.25 billion, a P/E ratio of 12.75, a P/E/G ratio of 0.77 and a beta of 4.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50.

Permian Resources (NASDAQ:PR) last issued its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 99.9% compared to the same quarter last year. As a group, analysts anticipate that Permian Resources Co. will post 1.57 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.71%. Permian Resources’s dividend payout ratio is currently 21.82%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PR. Citigroup reduced their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. UBS Group reduced their price target on Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial lifted their price objective on Permian Resources from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. BMO Capital Markets raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Wednesday, July 3rd. Finally, Mizuho lowered their price target on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Permian Resources Profile

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.