Seven Grand Managers LLC Increases Stake in Permian Resources Co. (NYSE:PR)

Seven Grand Managers LLC lifted its stake in Permian Resources Co. (NYSE:PR) by 50.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 750,000 shares of the company’s stock after buying an additional 250,000 shares during the quarter. Permian Resources comprises 2.3% of Seven Grand Managers LLC’s portfolio, making the stock its 16th biggest holding. Seven Grand Managers LLC owned 0.10% of Permian Resources worth $10,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Simplicity Wealth LLC raised its position in Permian Resources by 5.2% in the 2nd quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock worth $212,000 after purchasing an additional 646 shares during the period. GAMMA Investing LLC increased its stake in Permian Resources by 19.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after purchasing an additional 716 shares in the last quarter. Azzad Asset Management Inc. ADV raised its stake in Permian Resources by 2.0% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock worth $677,000 after acquiring an additional 740 shares during the last quarter. Mount Yale Investment Advisors LLC increased its holdings in Permian Resources by 3.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after buying an additional 781 shares during the period. Finally, Larson Financial Group LLC lifted its stake in Permian Resources by 0.5% during the 2nd quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock valued at $3,379,000 after acquiring an additional 949 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

PR has been the topic of several recent analyst reports. BMO Capital Markets raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Wednesday, July 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on Permian Resources from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Wells Fargo & Company reduced their target price on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Susquehanna decreased their price target on Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.73.

Permian Resources Stock Performance

Permian Resources stock opened at $13.98 on Thursday. Permian Resources Co. has a 52 week low of $12.34 and a 52 week 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 stock has a market cap of $10.76 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.85 and a beta of 4.32. The stock has a 50 day moving average of $14.07 and a 200-day moving average of $15.51.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The company’s quarterly revenue was up 99.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, analysts expect that Permian Resources Co. will post 1.49 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.72%. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Insider Activity

In related news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 77,237 shares in the company, valued at approximately $1,075,911.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’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 value 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.

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.