Cinctive Capital Management LP Buys Shares of 141,540 Permian Resources Co. (NYSE:PR)

Cinctive Capital Management LP purchased a new position in Permian Resources Co. (NYSE:PR - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 141,540 shares of the company's stock, valued at approximately $1,926,000.

Other institutional investors have also bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Permian Resources in the 2nd quarter valued at $30,000. Hexagon Capital Partners LLC increased its holdings in shares of Permian Resources by 28,542.9% in the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company's stock worth $27,000 after purchasing an additional 1,998 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new stake in Permian Resources during the second quarter valued at about $40,000. UMB Bank n.a. grew its stake in shares of Permian Resources by 99.2% during the third quarter. UMB Bank n.a. now owns 2,791 shares of the company's stock valued at $38,000 after buying an additional 1,390 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company's stock worth $45,000 after purchasing an additional 2,629 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Stock Down 2.9 %

NYSE:PR traded down $0.46 on Wednesday, hitting $15.14. The stock had a trading volume of 6,757,046 shares, compared to its average volume of 9,961,181. The company has a market cap of $12.16 billion, a PE ratio of 9.25, a P/E/G ratio of 0.92 and a beta of 4.35. Permian Resources Co. has a 52 week low of $12.34 and a 52 week high of $18.28. The business's fifty day moving average is $14.51 and its 200 day moving average is $14.88. 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 (NYSE:PR - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business's revenue for the quarter was up 60.3% on a year-over-year basis. During the same period last year, the company earned $0.36 earnings per share. On average, equities research analysts expect that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.60 annualized dividend and a yield of 3.96%. This is a boost from Permian Resources's previous quarterly dividend of $0.06. Permian Resources's dividend payout ratio is currently 36.36%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PR shares. JPMorgan Chase & Co. decreased their price objective on shares of Permian Resources from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, September 12th. UBS Group reduced their price objective on shares of Permian Resources from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Mizuho dropped their price objective on shares of Permian Resources from $22.00 to $19.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. Benchmark decreased their target price on shares of Permian Resources from $17.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Finally, Piper Sandler raised their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Permian Resources has a consensus rating of "Moderate Buy" and an average price target of $18.93.

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.