Phocas Financial Corp. Sells 4,989 Shares of Permian Resources Co. (NYSE:PR)

Phocas Financial Corp. lowered its stake in shares of Permian Resources Co. (NYSE:PR) by 1.0% in the fourth quarter, Holdings Channel reports. The firm owned 483,667 shares of the company’s stock after selling 4,989 shares during the period. Phocas Financial Corp.’s holdings in Permian Resources were worth $6,955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Ameriflex Group Inc. bought a new stake in Permian Resources during the fourth quarter worth approximately $89,000. Forum Financial Management LP boosted its position in shares of Permian Resources by 39.1% in the fourth quarter. Forum Financial Management LP now owns 20,280 shares of the company’s stock valued at $292,000 after acquiring an additional 5,705 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Permian Resources in the fourth quarter valued at approximately $2,782,000. Sunbelt Securities Inc. boosted its position in shares of Permian Resources by 435.5% in the fourth quarter. Sunbelt Securities Inc. now owns 17,092 shares of the company’s stock valued at $242,000 after acquiring an additional 13,900 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Permian Resources in the fourth quarter valued at approximately $431,676,000. Institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, EVP John Charles Bell sold 2,804 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the transaction, the executive vice president now owns 74,433 shares in the company, valued at approximately $1,044,294.99. This trade represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, the chief accounting officer now owns 58,668 shares in the company, valued at $822,525.36. This trade represents a 4.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,685 shares of company stock worth $135,687 over the last three months. 6.44% of the stock is currently owned by company insiders.

Permian Resources Stock Performance

Shares of NYSE:PR opened at $12.71 on Tuesday. Permian Resources Co. has a twelve month low of $10.01 and a twelve month high of $16.95. The firm has a market cap of $10.21 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The business has a fifty day moving average of $12.52 and a 200-day moving average of $13.85.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. Permian Resources’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, equities research analysts predict that Permian Resources Co. will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a yield of 4.72%. Permian Resources’s payout ratio is 37.04%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PR shares. The Goldman Sachs Group increased their price objective on Permian Resources from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Morgan Stanley reduced their target price on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Susquehanna reduced their target price on Permian Resources from $20.00 to $19.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Royal Bank of Canada raised their target price on Permian Resources from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, Citigroup cut Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.56.

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.