DRW Securities LLC Invests $1.29 Million in Permian Resources Co. (NASDAQ:PR)

DRW Securities LLC bought a new stake in shares of Permian Resources Co. (NASDAQ:PR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 80,000 shares of the company’s stock, valued at approximately $1,289,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. acquired a new stake in shares of Permian Resources during the 1st quarter worth approximately $26,000. Rise Advisors LLC purchased a new stake in Permian Resources during the first quarter worth $32,000. Innealta Capital LLC acquired a new stake in Permian Resources during the second quarter valued at $30,000. Transcendent Capital Group LLC purchased a new position in Permian Resources in the first quarter valued at $36,000. Finally, Parallel Advisors LLC raised its position in shares of Permian Resources by 117.0% in the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after acquiring an additional 1,178 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Trading Down 0.9 %

Shares of PR stock opened at $13.90 on Monday. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $14.51 and its two-hundred day moving average is $15.84. The company has a market capitalization of $10.70 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33.

Permian Resources (NASDAQ:PR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The firm’s revenue was up 99.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. Equities analysts forecast that Permian Resources Co. will post 1.57 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.73%. The ex-dividend date was Monday, August 19th. Permian Resources’s payout ratio is currently 21.82%.

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 shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the transaction, the chief accounting officer now directly owns 61,399 shares in the company, valued at approximately $855,288.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Robert Regan Shannon sold 4,822 shares of Permian Resources 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 completion of the sale, the chief accounting officer now owns 61,399 shares in the company, valued at approximately $855,288.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction that occurred 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 directly owns 77,237 shares of the company’s stock, 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 insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Benchmark restated a “buy” rating and set a $17.00 target price on shares of Permian Resources in a research report on Wednesday, August 7th. Wolfe Research began coverage on Permian Resources in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Citigroup reduced their target price 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. Susquehanna dropped their price target on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, Piper Sandler cut their price target on shares of Permian Resources from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.