Waterloo Capital L.P. Purchases 5,818 Shares of Permian Resources Co. (NASDAQ:PR)

Waterloo Capital L.P. increased its holdings in Permian Resources Co. (NASDAQ:PR) by 32.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,884 shares of the company’s stock after acquiring an additional 5,818 shares during the quarter. Waterloo Capital L.P.’s holdings in Permian Resources were worth $386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Permian Resources by 69.7% in the 4th quarter. Vanguard Group Inc. now owns 48,315,321 shares of the company’s stock worth $657,088,000 after acquiring an additional 19,847,358 shares in the last quarter. OnyxPoint Global Management LP purchased a new stake in shares of Permian Resources during the fourth quarter valued at about $114,159,000. Price T Rowe Associates Inc. MD lifted its position in shares of Permian Resources by 480.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,054,560 shares of the company’s stock valued at $106,924,000 after buying an additional 5,012,287 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Permian Resources by 59.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company’s stock worth $194,585,000 after buying an additional 4,497,184 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Permian Resources in the 4th quarter worth approximately $45,847,000. 91.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 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 transaction of $67,170.46. Following the sale, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on PR. Citigroup reduced their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of Permian Resources in a research report on Monday, August 12th. Wolfe Research initiated coverage on Permian Resources in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Benchmark reiterated a “buy” rating and issued a $17.00 price target on shares of Permian Resources in a research note on Wednesday, August 7th. Finally, Susquehanna lowered their price target on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Permian Resources Stock Up 1.2 %

PR opened at $14.02 on Friday. The company has a fifty day moving average of $14.61 and a two-hundred day moving average of $15.86. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 0.77 and a beta of 4.33.

Permian Resources (NASDAQ:PR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm posted $0.27 EPS. Permian Resources’s quarterly revenue was up 99.9% compared to the same quarter last year. On average, research analysts expect that Permian Resources Co. will post 1.57 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s payout ratio is presently 21.82%.

Permian Resources Company 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.