Tiff Advisory Services LLC Acquires New Holdings in Permian Resources Co. (NASDAQ:PR)

Tiff Advisory Services LLC acquired a new stake in Permian Resources Co. (NASDAQ:PR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,187,328 shares of the company's stock, valued at approximately $19,175,000. Permian Resources accounts for approximately 6.6% of Tiff Advisory Services LLC's investment portfolio, making the stock its 7th biggest holding. Tiff Advisory Services LLC owned about 0.15% of Permian Resources at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new stake in Permian Resources in the first quarter worth approximately $25,000. YHB Investment Advisors Inc. acquired a new stake in shares of Permian Resources in the first quarter valued at about $26,000. Parallel Advisors LLC lifted its stake in shares of Permian Resources by 117.0% in the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company's stock valued at $30,000 after buying an additional 1,178 shares during the period. Innealta Capital LLC bought a new stake in shares of Permian Resources in the second quarter valued at about $30,000. Finally, Rise Advisors LLC bought a new stake in shares of Permian Resources in the first quarter valued at about $32,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PR has been the subject of a number of research reports. BMO Capital Markets raised shares of Permian Resources from a "market perform" rating to an "outperform" rating and set a $21.00 price target for the company in a report on Wednesday, July 3rd. Truist Financial boosted their price objective on shares of Permian Resources from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. Benchmark restated a "buy" rating and set a $17.00 price objective on shares of Permian Resources in a research note on Wednesday, August 7th. 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 report on Wednesday, September 4th. Finally, Bank of America reissued a "buy" rating and issued a $20.00 price objective on shares of Permian Resources in a report on Friday, June 14th. Two investment 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 stock. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of "Moderate Buy" and an average target price of $19.93.

Insider Activity at Permian Resources

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

Permian Resources Stock Down 0.8 %

NASDAQ:PR traded down $0.11 during trading hours on Monday, reaching $13.14. The company had a trading volume of 7,630,929 shares, compared to its average volume of 9,918,517. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.72 and a beta of 4.33. The business's 50-day simple moving average is $15.02 and its two-hundred day simple moving average is $15.96. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28.

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

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Monday, August 19th. Permian Resources's payout ratio is currently 21.82%.

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.