Ground Swell Capital LLC Purchases Shares of 13,001 Permian Resources Co. (NYSE:PR)

Ground Swell Capital LLC acquired a new position in shares of Permian Resources Co. (NYSE:PR) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 13,001 shares of the company’s stock, valued at approximately $187,000.

Several other large investors have also modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Permian Resources during the fourth quarter worth approximately $431,676,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Permian Resources by 60.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company’s stock worth $469,856,000 after buying an additional 12,306,854 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Permian Resources by 55.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company’s stock worth $169,864,000 after buying an additional 4,236,141 shares during the period. Freestone Grove Partners LP acquired a new position in Permian Resources in the fourth quarter valued at $57,114,000. Finally, Invesco Ltd. grew its position in Permian Resources by 56.1% during the fourth quarter. Invesco Ltd. now owns 7,920,750 shares of the company’s stock valued at $113,900,000 after acquiring an additional 2,845,449 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Trading Up 0.2 %

Permian Resources stock opened at $13.04 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 12 month low of $10.01 and a 12 month high of $17.27. The company’s fifty day simple moving average is $12.47 and its 200-day simple moving average is $13.91. The stock has a market cap of $10.48 billion, a P/E ratio of 7.90, a P/E/G ratio of 4.05 and a beta of 1.20.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. As a group, sell-side analysts forecast that Permian Resources Co. will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.60%. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PR shares. Citigroup lowered Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Bank of America reduced their price target on shares of Permian Resources from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. dropped their price objective on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Williams Trading set a $19.00 target price on shares of Permian Resources in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada decreased their price target on shares of Permian Resources from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Permian Resources has an average rating of “Moderate Buy” and a consensus target price of $18.67.

Insider Transactions at Permian Resources

In other Permian Resources news, Director William J. Quinn bought 500,000 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the acquisition, the director now directly owns 812,429 shares of the company’s stock, valued at $10,618,447.03. This represents a 160.04 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Guy M. Oliphint sold 4,150 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total transaction of $58,058.50. Following the completion of the sale, the chief financial officer now owns 130,467 shares in the company, valued at approximately $1,825,233.33. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,685 shares of company stock worth $135,687. 6.44% of the stock is owned by corporate insiders.

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.