ClearAlpha Technologies LP Increases Holdings in Permian Resources Co. (NYSE:PR)

ClearAlpha Technologies LP boosted its stake in Permian Resources Co. (NYSE:PR) by 57.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,544 shares of the company’s stock after acquiring an additional 10,758 shares during the period. ClearAlpha Technologies LP’s holdings in Permian Resources were worth $402,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PR. Hexagon Capital Partners LLC increased its holdings in Permian Resources by 28,542.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after acquiring an additional 1,998 shares during the last quarter. Innealta Capital LLC bought a new position in Permian Resources during the second quarter worth about $30,000. UMB Bank n.a. increased its stake in shares of Permian Resources by 99.2% in the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after purchasing an additional 1,390 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Permian Resources in the second quarter valued at approximately $40,000. Finally, Blue Trust Inc. lifted its stake in shares of Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after buying an additional 2,629 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on PR shares. Piper Sandler lifted their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a research note on Monday, October 14th. Wells Fargo & Company cut their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Benchmark decreased their price target on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Finally, Susquehanna cut their price objective on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Permian Resources has an average rating of “Moderate Buy” and a consensus price target of $18.93.

Insider Activity at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of the company’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 owns 77,237 shares in the company, valued at $1,075,911.41. The trade was a 5.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 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 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. This represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by corporate insiders.

Permian Resources Trading Up 0.4 %

Shares of PR stock opened at $15.66 on Monday. 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 12-month low of $12.34 and a 12-month high of $18.28. The business has a 50-day moving average price of $14.45 and a two-hundred day moving average price of $14.91. The firm has a market cap of $12.58 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 0.94 and a beta of 4.34.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.21. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 60.3% compared to the same quarter last year. Equities analysts anticipate that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Thursday, November 14th. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s payout ratio is 36.36%.

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.