Permian Resources Co. (NYSE:PR) Shares Acquired by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC grew its position in Permian Resources Co. (NYSE:PR) by 28,542.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,005 shares of the company’s stock after purchasing an additional 1,998 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Permian Resources were worth $27,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Permian Resources in the 2nd quarter valued at $30,000. Rise Advisors LLC acquired a new stake in Permian Resources during the 1st quarter worth $32,000. Transcendent Capital Group LLC acquired a new stake in Permian Resources during the 1st quarter worth $36,000. Gilliland Jeter Wealth Management LLC acquired a new stake in Permian Resources during the 2nd quarter worth $40,000. Finally, GAMMA Investing LLC raised 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 worth $70,000 after acquiring an additional 716 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Stock Performance

Shares of PR stock opened at $14.52 on Friday. 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 Co. has a 12-month low of $12.34 and a 12-month high of $18.28. The company has a market cap of $11.18 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 0.85 and a beta of 4.32. The stock has a 50 day simple moving average of $14.06 and a 200-day simple moving average of $15.59.

Permian Resources (NYSE:PR) last released its 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 company 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 earned $0.27 earnings per share. Permian Resources’s quarterly revenue was up 99.9% compared to the same quarter last year. On average, equities analysts forecast that Permian Resources Co. will post 1.49 EPS for the current year.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.65%. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Wall Street Analysts Forecast Growth

PR has been the topic of several research analyst reports. Mizuho cut their price target on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price target on shares of Permian Resources in a research note on Monday, August 12th. Piper Sandler cut their price target on shares of Permian Resources from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Benchmark reiterated a “buy” rating and set a $17.00 price target on shares of Permian Resources in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group started coverage on shares of Permian Resources in a research report on Monday, September 30th. They set a “buy” rating and a $19.00 price objective on the stock. Two investment 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. According to MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.20.

Insider Buying and Selling at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of the company’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 value of $67,156.53. Following the sale, the executive vice president now owns 77,237 shares in the company, valued at $1,075,911.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction 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 transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’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 $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by corporate insiders.

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.