Ruffer LLP Sells 189,100 Shares of Permian Resources Corporation $PR

Ruffer LLP cut its holdings in Permian Resources Corporation (NYSE:PR) by 92.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,661 shares of the company’s stock after selling 189,100 shares during the period. Ruffer LLP’s holdings in Permian Resources were worth $206,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PR. Farther Finance Advisors LLC increased its holdings in shares of Permian Resources by 114.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock worth $25,000 after buying an additional 1,047 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Permian Resources by 340.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after buying an additional 3,224 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Permian Resources during the 4th quarter valued at about $60,000. Allworth Financial LP grew its holdings in 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 purchasing an additional 1,015 shares during the last quarter. Finally, Rakuten Securities Inc. grew its holdings in Permian Resources by 237.6% during the 2nd quarter. Rakuten Securities Inc. now owns 7,106 shares of the company’s stock valued at $97,000 after purchasing an additional 5,001 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Permian Resources news, Director Aron Marquez sold 7,750 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $19.62, for a total value of $152,055.00. Following the completion of the sale, the director directly owned 72,218 shares of the company’s stock, valued at $1,416,917.16. The trade was a 9.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James H. Walter sold 673,425 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total transaction of $12,377,551.50. Following the completion of the sale, the chief executive officer directly owned 9,389,405 shares of the company’s stock, valued at approximately $172,577,263.90. This trade represents a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,130,066 shares of company stock worth $58,837,655 over the last 90 days. Corporate insiders own 6.44% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PR shares. Royal Bank Of Canada upped their price target on shares of Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Scotiabank upped their price target on shares of Permian Resources from $21.00 to $25.00 and gave the company a “sector outperform” rating in a report on Wednesday. Raymond James Financial reiterated a “strong-buy” rating and set a $21.00 price target on shares of Permian Resources in a report on Thursday, February 26th. Wells Fargo & Company upped their price target on shares of Permian Resources from $21.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Permian Resources in a report on Friday, March 27th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $22.38.

Permian Resources Price Performance

Permian Resources stock opened at $20.27 on Thursday. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.66 and a beta of 0.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.78 and a quick ratio of 0.78. Permian Resources Corporation has a 1 year low of $11.58 and a 1 year high of $21.99. The firm has a 50-day moving average of $19.47 and a two-hundred day moving average of $15.92.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. On average, research analysts forecast that Permian Resources Corporation will post 1.77 earnings per share for the current year.

Permian Resources Increases Dividend

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

Permian Resources Company Profile

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.