Gator Capital Management LLC Takes $1.23 Million Position in Permian Resources Corporation $PR

Gator Capital Management LLC bought a new stake in Permian Resources Corporation (NYSE:PR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 87,430 shares of the company’s stock, valued at approximately $1,227,000.

A number of other hedge funds have also modified their holdings of PR. Los Angeles Capital Management LLC acquired a new stake in shares of Permian Resources in the fourth quarter valued at about $39,000. State of Wyoming raised its position in shares of Permian Resources by 126.8% in the fourth quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after buying an additional 1,640 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Permian Resources by 340.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after purchasing an additional 3,224 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Permian Resources during the fourth quarter worth about $60,000. Finally, Farther Finance Advisors LLC increased its position in Permian Resources by 126.1% during the fourth quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company’s stock worth $62,000 after purchasing an additional 2,477 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Stock Performance

Shares of PR stock opened at $19.48 on Friday. The firm’s 50 day moving average price is $20.32 and its 200-day moving average price is $17.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. Permian Resources Corporation has a one year low of $11.92 and a one year high of $22.67. The firm has a market cap of $16.31 billion, a P/E ratio of 22.65 and a beta of 0.48.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business posted $0.44 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts predict that Permian Resources Corporation will post 2.01 EPS for the current year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, June 16th. Permian Resources’s dividend payout ratio is currently 74.42%.

Insider Transactions at Permian Resources

In other news, Director Aron Marquez sold 7,750 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 72,218 shares of the company’s stock, valued at approximately $1,416,917.16. This trade represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the completion of the transaction, the executive vice president directly owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. The trade was a 10.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 588,198 shares of company stock worth $11,576,280. 5.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. KeyCorp began coverage on shares of Permian Resources in a report on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 target price on the stock. Weiss Ratings lowered shares of Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 12th. Roth Mkm reiterated a “neutral” rating and issued a $22.00 price objective (up from $20.00) on shares of Permian Resources in a report on Wednesday, April 8th. Mizuho raised their target price on Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $21.00 target price on shares of Permian Resources in a research report on Thursday, February 26th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

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.