Monashee Investment Management LLC Has $2.39 Million Stock Position in Permian Resources Co. (NASDAQ:PR)

Monashee Investment Management LLC reduced its stake in Permian Resources Co. (NASDAQ:PRFree Report) by 64.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,900 shares of the company’s stock after selling 325,200 shares during the period. Permian Resources comprises approximately 0.4% of Monashee Investment Management LLC’s investment portfolio, making the stock its 22nd largest position. Monashee Investment Management LLC’s holdings in Permian Resources were worth $2,392,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oliver Luxxe Assets LLC raised its stake in Permian Resources by 7.8% during the 4th quarter. Oliver Luxxe Assets LLC now owns 50,718 shares of the company’s stock worth $690,000 after buying an additional 3,652 shares during the period. TFO Wealth Partners LLC boosted its holdings in shares of Permian Resources by 154,328.6% in the 4th quarter. TFO Wealth Partners LLC now owns 10,810 shares of the company’s stock worth $147,000 after buying an additional 10,803 shares during the last quarter. United Services Automobile Association grew its position in shares of Permian Resources by 61.0% during the 4th quarter. United Services Automobile Association now owns 26,141 shares of the company’s stock valued at $356,000 after acquiring an additional 9,905 shares during the period. 1492 Capital Management LLC bought a new position in Permian Resources during the fourth quarter valued at $4,054,000. Finally, Parallel Advisors LLC lifted its holdings in Permian Resources by 117.0% during the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock valued at $30,000 after purchasing an additional 1,178 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Down 0.1 %

Shares of PR traded down $0.01 during trading hours on Wednesday, hitting $16.07. The company had a trading volume of 11,692,040 shares, compared to its average volume of 9,624,996. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 14.61 and a beta of 4.32. The firm has a fifty day moving average price of $17.08 and a 200-day moving average price of $15.03. Permian Resources Co. has a 52-week low of $9.11 and a 52-week high of $18.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.55 and a current ratio of 0.55.

Permian Resources (NASDAQ:PRGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. Permian Resources had a net margin of 13.90% and a return on equity of 11.43%. On average, equities research analysts forecast that Permian Resources Co. will post 1.81 EPS for the current fiscal year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 21st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Permian Resources’s previous quarterly dividend of $0.05. Permian Resources’s payout ratio is 21.82%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PR. Citigroup raised their target price on shares of Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. boosted their price objective on Permian Resources from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a research report on Friday, April 12th. Truist Financial upped their price objective on shares of Permian Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Raymond James started coverage on Permian Resources in a research report on Tuesday, April 9th. They set a “strong-buy” rating and a $24.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and an average price target of $19.38.

Check Out Our Latest Analysis on PR

Insider Buying and Selling at Permian Resources

In other Permian Resources news, Director Jeffrey Tepper sold 65,000 shares of Permian Resources stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $16.42, for a total transaction of $1,067,300.00. Following the transaction, the director now owns 158,665 shares of the company’s stock, valued at $2,605,279.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of Permian Resources stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $141,390,000.00. Following the completion of the transaction, the insider now directly owns 25,477,527 shares of the company’s stock, valued at approximately $400,251,949.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Tepper sold 65,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $16.42, for a total value of $1,067,300.00. Following the completion of the transaction, the director now directly owns 158,665 shares in the company, valued at approximately $2,605,279.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,641,849 shares of company stock valued at $512,849,598. 12.80% of the stock is owned by company insiders.

Permian Resources Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Permian Resources (NASDAQ:PR)

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