Beck Capital Management LLC Purchases 42,055 Shares of Permian Resources Co. (NASDAQ:PR)

Beck Capital Management LLC lifted its holdings in shares of Permian Resources Co. (NASDAQ:PR - Free Report) by 31.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 175,823 shares of the company's stock after acquiring an additional 42,055 shares during the period. Beck Capital Management LLC's holdings in Permian Resources were worth $2,840,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PR. YHB Investment Advisors Inc. purchased a new stake in Permian Resources in the 1st quarter valued at approximately $26,000. Parallel Advisors LLC lifted its stake in 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 last quarter. Innealta Capital LLC acquired a new position in Permian Resources during the 2nd quarter worth $30,000. Rise Advisors LLC acquired a new position in shares of Permian Resources during the 1st quarter valued at $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in Permian Resources during the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PR. Wolfe Research started coverage on shares of Permian Resources in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Mizuho lowered their price target on shares of Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Citigroup cut their target price on Permian Resources from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Susquehanna dropped their target price on shares of Permian Resources from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $20.00 price objective on shares of Permian Resources in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Permian Resources currently has a consensus rating of "Moderate Buy" and an average price target of $19.50.

Permian Resources Stock Performance

Shares of NASDAQ:PR traded up $0.29 during mid-day trading on Monday, reaching $14.19. The company had a trading volume of 12,167,703 shares, compared to its average volume of 10,100,014. 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 cap of $10.93 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.77 and a beta of 4.33. Permian Resources Co. has a one year low of $12.34 and a one year high of $18.28. The company's 50-day moving average price is $14.51 and its 200-day moving average price is $15.84.

Permian Resources (NASDAQ:PR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (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 during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company posted $0.27 EPS. The company's revenue for the quarter was up 99.9% on a year-over-year basis. As a group, equities research analysts anticipate that Permian Resources Co. will post 1.57 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The firm 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 annualized dividend and a yield of 1.69%. Permian Resources's payout ratio is 21.82%.

Insiders Place Their Bets

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

Permian Resources Company 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.