954,387 Shares in Permian Resources Co. (NASDAQ:PR) Purchased by Distillate Capital Partners LLC

Distillate Capital Partners LLC acquired a new stake in shares of Permian Resources Co. (NASDAQ:PR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 954,387 shares of the company’s stock, valued at approximately $15,413,000. Distillate Capital Partners LLC owned about 0.12% of Permian Resources at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PR. DRW Securities LLC bought a new stake in shares of Permian Resources in the fourth quarter worth approximately $1,904,000. Franklin Resources Inc. grew its position in Permian Resources by 74.2% in the 4th quarter. Franklin Resources Inc. now owns 351,681 shares of the company’s stock worth $4,783,000 after purchasing an additional 149,851 shares during the period. American International Group Inc. raised its stake in Permian Resources by 10.4% during the 1st quarter. American International Group Inc. now owns 830,432 shares of the company’s stock valued at $14,665,000 after buying an additional 78,146 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Permian Resources by 22.4% during the 1st quarter. Retirement Systems of Alabama now owns 577,336 shares of the company’s stock valued at $10,196,000 after buying an additional 105,565 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Permian Resources by 69.7% in the 4th quarter. Vanguard Group Inc. now owns 48,315,321 shares of the company’s stock worth $657,088,000 after buying an additional 19,847,358 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PR shares. Susquehanna lowered their target price on Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Bank of America restated a “buy” rating and issued a $20.00 price objective on shares of Permian Resources in a research report on Friday, June 14th. Benchmark reiterated 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 assumed coverage on Permian Resources in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Citigroup cut their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. 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 company’s stock. According to MarketBeat, Permian Resources has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Permian Resources Stock Up 2.1 %

NASDAQ:PR opened at $14.19 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a market cap of $10.93 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33. The company has a 50-day moving average of $14.46 and a 200 day moving average of $15.83. Permian Resources Co. has a 1-year low of $12.34 and a 1-year high of $18.28.

Permian Resources (NASDAQ:PR) last announced its 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 return on equity of 11.91% and a net margin of 15.62%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the company posted $0.27 EPS. The firm’s quarterly revenue was up 99.9% compared to the same quarter last year. As a group, research analysts anticipate that Permian Resources Co. will post 1.57 EPS for the current fiscal year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.69%. Permian Resources’s payout ratio is 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.