Sculptor Capital LP Takes $4.50 Million Position in Permian Resources Co. (NASDAQ:PR)

Sculptor Capital LP bought a new stake in shares of Permian Resources Co. (NASDAQ:PR) during the 2nd quarter, Holdings Channel reports. The fund bought 278,361 shares of the company’s stock, valued at approximately $4,496,000.

Several other hedge funds have also recently made changes to their positions in the business. Simplicity Wealth LLC grew its stake in Permian Resources by 5.2% in the second quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock worth $212,000 after purchasing an additional 646 shares during the period. GAMMA Investing LLC grew its stake in Permian Resources by 19.6% in the second quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock worth $70,000 after purchasing an additional 716 shares during the period. Azzad Asset Management Inc. ADV grew its stake in Permian Resources by 2.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock worth $677,000 after purchasing an additional 740 shares during the period. Mount Yale Investment Advisors LLC grew its stake in Permian Resources by 3.1% in the first quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after purchasing an additional 781 shares during the period. Finally, Larson Financial Group LLC grew its stake in Permian Resources by 0.5% in the second quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock worth $3,379,000 after purchasing an additional 949 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PR shares. UBS Group cut their target price on Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Citigroup cut their target price on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Truist Financial increased their target price on Permian Resources from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Wolfe Research began coverage on Permian Resources in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Susquehanna lowered their price target on Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Permian Resources Stock Performance

Shares of PR opened at $13.06 on Friday. Permian Resources Co. has a 12 month low of $12.34 and a 12 month high of $18.28. The stock has a fifty day moving average price of $14.30 and a 200-day moving average price of $15.78. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm has a market cap of $10.06 billion, a PE ratio of 11.87, a P/E/G ratio of 0.81 and a beta of 4.33.

Permian Resources (NASDAQ:PR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue for the quarter was up 99.9% compared to the same quarter last year. Equities research analysts predict that Permian Resources Co. will post 1.53 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s payout ratio is 21.82%.

Insider Activity at Permian Resources

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

Permian Resources 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.