Thomist Capital Management LP Acquires Shares of 138,500 Permian Resources Co. (NYSE:PR)

Thomist Capital Management LP acquired a new stake in Permian Resources Co. (NYSE:PR) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 138,500 shares of the company’s stock, valued at approximately $1,997,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its holdings in shares of Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after buying an additional 852 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after buying an additional 1,232 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after buying an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC acquired a new position in shares of Permian Resources during the 4th quarter worth $41,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Permian Resources by 294.8% during the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after buying an additional 2,155 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Robert Regan Shannon sold 2,731 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. This trade represents a 4.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Guy M. Oliphint sold 4,150 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the transaction, the chief financial officer now owns 130,467 shares in the company, valued at approximately $1,825,233.33. This represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,685 shares of company stock worth $135,687. Corporate insiders own 6.44% of the company’s stock.

Permian Resources Stock Down 0.4%

Shares of Permian Resources stock opened at $13.50 on Friday. Permian Resources Co. has a one year low of $10.01 and a one year high of $16.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The stock’s 50-day moving average is $12.58 and its 200 day moving average is $13.90. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 4.05 and a beta of 1.20.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts anticipate that Permian Resources Co. will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.45%. Permian Resources’s payout ratio is 37.04%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PR shares. The Goldman Sachs Group boosted their price target on Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Friday. UBS Group upped their target price on Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Citigroup cut Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Piper Sandler lowered their target price on Permian Resources from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Finally, Bank of America decreased their price target on Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.33.

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.