15,000 Shares in Permian Resources Co. (NASDAQ:PR) Bought by U S Global Investors Inc.

U S Global Investors Inc. bought a new stake in Permian Resources Co. (NASDAQ:PRFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,000 shares of the company’s stock, valued at approximately $204,000.

Other hedge funds also recently bought and sold shares of the company. Chilton Capital Management LLC increased its position in Permian Resources by 50.0% in the 2nd quarter. Chilton Capital Management LLC now owns 3,000 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares during the last quarter. Quarry LP acquired a new position in Permian Resources in the 1st quarter worth about $33,000. Clearstead Advisors LLC bought a new stake in shares of Permian Resources during the 3rd quarter worth about $45,000. Optimum Investment Advisors bought a new stake in shares of Permian Resources during the 4th quarter worth about $50,000. Finally, Sandia Investment Management LP bought a new stake in shares of Permian Resources during the 1st quarter worth about $52,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Stock Up 1.7 %

Shares of NASDAQ:PR traded up $0.30 during midday trading on Wednesday, reaching $17.83. The company had a trading volume of 1,317,571 shares, compared to its average volume of 9,620,570. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average price is $15.26 and its 200 day moving average price is $14.18. The stock has a market cap of $13.76 billion, a PE ratio of 13.42 and a beta of 4.35. Permian Resources Co. has a 1-year low of $8.94 and a 1-year high of $17.84.

Permian Resources (NASDAQ:PRGet Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Research analysts forecast that Permian Resources Co. will post 1.5 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Tuesday, March 12th. Permian Resources’s dividend payout ratio is presently 17.24%.

Insider Transactions at Permian Resources

In other news, CAO Brent P. Jensen sold 1,853 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the sale, the chief accounting officer now owns 1,047,610 shares in the company, valued at $15,337,010.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO William M. Hickey III sold 4,000,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $62,840,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brent P. Jensen sold 1,853 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.64, for a total value of $27,127.92. Following the completion of the sale, the chief accounting officer now owns 1,047,610 shares of the company’s stock, valued at $15,337,010.40. The disclosure for this sale can be found here. Insiders sold a total of 32,916,943 shares of company stock worth $516,796,999 over the last quarter. Company insiders own 23.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Permian Resources from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Bank of America began coverage on Permian Resources in a report on Friday, January 5th. They issued a “neutral” rating and a $15.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a report on Tuesday, March 5th. Citigroup upped their price target on Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Truist Financial upped their price target on Permian Resources from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $18.18.

Read Our Latest Research Report on PR

Permian Resources Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Permian Resources (NASDAQ:PR)

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