Waterloo Capital L.P. Increases Stake in Permian Resources Co. (NASDAQ:PR)

Waterloo Capital L.P. raised its holdings in shares of Permian Resources Co. (NASDAQ:PR) by 32.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,884 shares of the company’s stock after purchasing an additional 5,818 shares during the quarter. Waterloo Capital L.P.’s holdings in Permian Resources were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Simplicity Wealth LLC grew its position in shares of Permian Resources by 5.2% in the second quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock valued at $212,000 after purchasing an additional 646 shares in the last quarter. GAMMA Investing LLC grew its holdings in Permian Resources by 19.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after buying an additional 716 shares in the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Permian Resources by 2.0% during the first quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock valued at $677,000 after buying an additional 740 shares during the period. Mount Yale Investment Advisors LLC increased its position in shares of Permian Resources by 3.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock valued at $454,000 after buying an additional 781 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Permian Resources by 0.5% in the second quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock worth $3,379,000 after buying an additional 949 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of the firm’s 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 sale, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at $855,288.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Permian Resources 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 directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup reduced their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Bank of America reiterated a “buy” rating and issued a $20.00 price objective on shares of Permian Resources in a research report on Friday, June 14th. Truist Financial boosted their target price on Permian Resources from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. UBS Group decreased their target price on Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wolfe Research assumed coverage on Permian Resources in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.50.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $14.02 on Friday. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33. The company has a fifty day moving average of $14.61 and a 200-day moving average of $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 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 announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company earned $0.27 earnings per share. Permian Resources’s quarterly revenue was up 99.9% on a year-over-year basis. Equities research analysts expect that Permian Resources Co. will post 1.57 EPS for the current year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.71%. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

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.