Ruffer LLP Reduces Position in Permian Resources Corporation $PR

Ruffer LLP lessened its holdings in shares of Permian Resources Corporation (NYSE:PR) by 92.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,661 shares of the company’s stock after selling 189,100 shares during the quarter. Ruffer LLP’s holdings in Permian Resources were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Curated Wealth Partners LLC lifted its stake in shares of Permian Resources by 1.1% during the 4th quarter. Curated Wealth Partners LLC now owns 70,601 shares of the company’s stock valued at $991,000 after buying an additional 747 shares in the last quarter. Chilton Capital Management LLC lifted its stake in shares of Permian Resources by 3.5% during the 3rd quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after buying an additional 800 shares in the last quarter. Inscription Capital LLC lifted its stake in shares of Permian Resources by 3.5% during the 3rd quarter. Inscription Capital LLC now owns 28,219 shares of the company’s stock valued at $361,000 after buying an additional 948 shares in the last quarter. Rothschild Investment LLC lifted its stake in shares of Permian Resources by 7.1% during the 3rd quarter. Rothschild Investment LLC now owns 14,651 shares of the company’s stock valued at $188,000 after buying an additional 974 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Permian Resources by 18.7% during the 3rd quarter. Allworth Financial LP now owns 6,445 shares of the company’s stock valued at $82,000 after buying an additional 1,015 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, CEO James H. Walter sold 673,425 shares of Permian Resources stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total value of $12,377,551.50. Following the sale, the chief executive officer directly owned 9,389,405 shares in the company, valued at approximately $172,577,263.90. The trade was a 6.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Guy M. Oliphint sold 4,999 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $18.28, for a total transaction of $91,381.72. Following the completion of the sale, the executive vice president owned 605,272 shares in the company, valued at approximately $11,064,372.16. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,130,066 shares of company stock worth $58,837,655 in the last 90 days. 6.44% of the stock is owned by company insiders.

Permian Resources Stock Performance

Shares of NYSE PR opened at $20.27 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $16.95 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.66 and a beta of 0.56. The firm’s fifty day moving average is $19.47 and its two-hundred day moving average is $15.92. Permian Resources Corporation has a 52-week low of $11.58 and a 52-week high of $21.99.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.32 billion. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. Permian Resources’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. As a group, analysts anticipate that Permian Resources Corporation will post 1.77 EPS for the current fiscal year.

Permian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were issued a $0.16 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s payout ratio is presently 51.20%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PR. Wells Fargo & Company lifted their target price on shares of Permian Resources from $21.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Roth Mkm restated a “neutral” rating and set a $22.00 target price (up from $20.00) on shares of Permian Resources in a research note on Wednesday, April 8th. Morgan Stanley restated an “overweight” rating on shares of Permian Resources in a research note on Friday, March 27th. Weiss Ratings upgraded shares of Permian Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Finally, BMO Capital Markets upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.38.

About Permian Resources

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.