Ground Swell Capital LLC Makes New $187,000 Investment in Permian Resources Co. (NYSE:PR)

Ground Swell Capital LLC acquired a new stake in Permian Resources Co. (NYSE:PR) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 13,001 shares of the company’s stock, valued at approximately $187,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PR. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Permian Resources in the fourth quarter worth about $431,676,000. Price T Rowe Associates Inc. MD grew its stake in shares of Permian Resources by 60.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company’s stock valued at $469,856,000 after purchasing an additional 12,306,854 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Permian Resources by 55.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company’s stock worth $169,864,000 after buying an additional 4,236,141 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of Permian Resources during the 4th quarter worth approximately $57,114,000. Finally, Invesco Ltd. boosted its stake in Permian Resources by 56.1% in the 4th quarter. Invesco Ltd. now owns 7,920,750 shares of the company’s stock valued at $113,900,000 after buying an additional 2,845,449 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

Permian Resources Trading Up 0.2 %

PR stock opened at $13.04 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a twelve month low of $10.01 and a twelve month high of $17.27. The company has a market cap of $10.48 billion, a P/E ratio of 7.90, a PEG ratio of 4.05 and a beta of 1.20. The business has a fifty day moving average of $12.47 and a 200-day moving average of $13.91.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. Permian Resources’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts expect that Permian Resources Co. will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources’s dividend payout ratio (DPR) is 41.96%.

Wall Street Analyst Weigh In

PR has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price objective on Permian Resources from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Susquehanna dropped their target price on shares of Permian Resources from $20.00 to $19.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Bank of America dropped their price objective on shares of Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, Truist Financial boosted their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and an average target price of $18.67.

Insider Activity at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the stock in a transaction dated 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 owns 58,668 shares of the company’s stock, valued at approximately $822,525.36. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Guy M. Oliphint sold 4,150 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.99, for a total value of $58,058.50. Following the transaction, the chief financial officer now owns 130,467 shares of the company’s stock, valued at $1,825,233.33. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,685 shares of company stock worth $135,687 over the last ninety days. Company insiders own 6.44% of the company’s stock.

About Permian Resources

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.