Inspire Advisors LLC Purchases New Holdings in Permian Resources Co. (NASDAQ:PR)

Inspire Advisors LLC bought a new stake in Permian Resources Co. (NASDAQ:PR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 38,389 shares of the company's stock, valued at approximately $620,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of Permian Resources in the first quarter valued at $25,000. YHB Investment Advisors Inc. acquired a new position in Permian Resources in the 1st quarter valued at about $26,000. Rise Advisors LLC bought a new position in Permian Resources in the 1st quarter valued at about $32,000. Innealta Capital LLC acquired a new stake in Permian Resources during the second quarter worth approximately $30,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Permian Resources during the first quarter worth approximately $36,000. Institutional investors own 91.84% of the company's stock.

Permian Resources Trading Up 2.5 %

NASDAQ:PR traded up $0.33 during mid-day trading on Friday, hitting $13.49. 10,906,320 shares of the company's stock were exchanged, compared to its average volume of 7,082,255. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. 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 capitalization of $10.39 billion, a P/E ratio of 12.26, a PEG ratio of 0.71 and a beta of 4.33. The company has a 50 day simple moving average of $14.75 and a 200-day simple moving average of $15.90.

Permian Resources (NASDAQ:PR - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The business's revenue was up 99.9% on a year-over-year basis. As a group, research analysts expect that Permian Resources Co. will post 1.63 earnings per share for the current year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a dividend of $0.06 per share. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.78%. Permian Resources's dividend payout ratio (DPR) is currently 21.82%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their target price on Permian Resources from $20.00 to $18.00 and set a "buy" rating for the company in a report on Friday, August 9th. 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. Piper Sandler lowered their target price on shares of Permian Resources from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Thursday, August 15th. BMO Capital Markets upgraded Permian Resources from a "market perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research note on Wednesday, July 3rd. Finally, UBS Group lowered their price objective on Permian Resources from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.71.

Insiders Place Their Bets

In related news, EVP John Charles Bell sold 4,821 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 $1,075,911.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the firm's stock in a transaction on 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 sale, the executive vice president now directly 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 at the SEC website. Also, CAO Robert Regan Shannon sold 4,822 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 transaction of $67,170.46. Following the transaction, the chief accounting officer now owns 61,399 shares in the company, valued at approximately $855,288.07. The disclosure for this sale can be found here. Company insiders own 12.80% of the company's stock.

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.