Inscription Capital LLC Boosts Stock Position in Permian Resources Co. (NYSE:PR)

Inscription Capital LLC grew its position in Permian Resources Co. (NYSE:PR) by 7.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,088 shares of the company’s stock after purchasing an additional 1,587 shares during the period. Inscription Capital LLC’s holdings in Permian Resources were worth $328,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Park Avenue Securities LLC acquired a new position in Permian Resources in the 1st quarter worth approximately $236,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Permian Resources by 62.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 151,415 shares of the company’s stock worth $2,674,000 after purchasing an additional 58,090 shares during the last quarter. State of Michigan Retirement System lifted its position in Permian Resources by 24.7% during the first quarter. State of Michigan Retirement System now owns 112,700 shares of the company’s stock valued at $1,990,000 after purchasing an additional 22,300 shares during the period. Saxon Interests Inc. purchased a new stake in Permian Resources in the first quarter valued at $230,000. Finally, Azzad Asset Management Inc. ADV grew its position in Permian Resources by 2.0% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock worth $677,000 after purchasing an additional 740 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Trading Down 2.2 %

Shares of Permian Resources stock opened at $13.61 on Tuesday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The firm has a market capitalization of $10.92 billion, a PE ratio of 10.89, a P/E/G ratio of 0.84 and a beta of 4.32. The firm’s 50-day moving average price is $13.94 and its 200 day moving average price is $15.27.

Permian Resources (NYSE:PR) last announced its earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business’s revenue was up 99.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 earnings per share. On average, sell-side analysts predict that Permian Resources Co. will post 1.46 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.76%. Permian Resources’s dividend payout ratio (DPR) is presently 19.20%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wolfe Research started coverage on Permian Resources in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. BMO Capital Markets upgraded Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Wednesday, July 3rd. Truist Financial dropped their price objective on shares of Permian Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. UBS Group decreased their target price on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $18.73.

Insider Transactions at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Robert Regan Shannon sold 4,822 shares of the 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 $67,170.46. Following the completion of the transaction, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Charles Bell sold 4,821 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 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 $1,075,911.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.