Versor Investments LP Takes Position in Permian Resources Co. (NASDAQ:PR)

Versor Investments LP purchased a new stake in shares of Permian Resources Co. (NASDAQ:PR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 119,500 shares of the company's stock, valued at approximately $1,930,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PR. Simplicity Wealth LLC lifted its holdings in shares of Permian Resources by 5.2% during 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 lifted its stake in Permian Resources by 19.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock valued at $70,000 after acquiring an additional 716 shares during the period. Azzad Asset Management Inc. ADV boosted its holdings in shares of Permian Resources by 2.0% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company's stock valued at $677,000 after acquiring an additional 740 shares during the last quarter. Mount Yale Investment Advisors LLC increased its stake in shares of 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 acquiring an additional 781 shares during the period. Finally, Chilton Capital Management LLC raised its holdings in shares of Permian Resources by 4.6% during the first quarter. Chilton Capital Management LLC now owns 22,868 shares of the company's stock worth $404,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Permian Resources Trading Down 1.5 %

NASDAQ:PR traded down $0.22 during trading hours on Monday, hitting $14.24. The company had a trading volume of 4,612,200 shares, compared to its average volume of 9,994,479. Permian Resources Co. has a 1 year low of $12.34 and a 1 year high of $18.28. The company has a market cap of $10.96 billion, a P/E ratio of 12.95, a P/E/G ratio of 0.77 and a beta of 4.37. The company has a 50-day moving average of $15.27 and a 200 day moving average of $16.00. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Permian Resources (NASDAQ:PR - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. Permian Resources's quarterly revenue was up 99.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 earnings per share. Sell-side analysts expect that Permian Resources Co. will post 1.63 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.69%. Permian Resources's dividend payout ratio (DPR) is currently 21.82%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PR. Benchmark reiterated a "buy" rating and set a $17.00 price target on shares of Permian Resources in a research report on Wednesday, August 7th. Piper Sandler cut their target price on shares of Permian Resources from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, August 15th. Citigroup lowered their price target on shares of Permian Resources from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Friday, August 9th. BMO Capital Markets raised shares of Permian Resources from a "market perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a report on Wednesday, July 3rd. Finally, Bank of America reissued a "buy" rating and set a $20.00 target price on shares of Permian Resources in a research note on Friday, June 14th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of "Moderate Buy" and an average target price of $20.00.

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.