Viking Fund Management LLC lifted its stake in shares of Permian Resources Co. (NYSE:PR - Free Report) by 28.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 881,000 shares of the company's stock after buying an additional 193,700 shares during the quarter. Permian Resources makes up approximately 1.9% of Viking Fund Management LLC's portfolio, making the stock its 8th biggest position. Viking Fund Management LLC owned 0.11% of Permian Resources worth $11,990,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. Simplicity Wealth LLC raised its position in shares of Permian Resources by 5.2% during the 2nd quarter. Simplicity Wealth LLC now owns 13,150 shares of the company's stock worth $212,000 after acquiring an additional 646 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 716 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of Permian Resources by 2.0% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company's stock valued at $677,000 after buying an additional 740 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in shares of Permian Resources by 3.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company's stock valued at $454,000 after buying an additional 781 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in Permian Resources by 0.5% during the 2nd quarter. Larson Financial Group LLC now owns 209,245 shares of the company's stock worth $3,379,000 after acquiring an additional 949 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CAO Robert Regan Shannon sold 4,822 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the transaction, the chief accounting officer now directly owns 61,399 shares of the company's stock, valued at $855,288.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP John Charles Bell sold 4,821 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now owns 77,237 shares of the company's stock, valued at $1,075,911.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Robert Regan Shannon sold 4,822 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 $67,170.46. Following the sale, the chief accounting officer now owns 61,399 shares in the company, valued at approximately $855,288.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.80% of the company's stock.
PR stock traded up $0.12 on Friday, reaching $14.52. 9,771,751 shares of the company's stock were exchanged, compared to its average volume of 11,662,006. The stock has a fifty day moving average of $14.06 and a 200-day moving average of $15.58. The firm has a market cap of $11.65 billion, a PE ratio of 11.62, a P/E/G ratio of 0.85 and a beta of 4.32. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28.
Permian Resources (NYSE:PR - Get Free Report) last issued its 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 net margin of 15.62% and a return on equity of 11.91%. The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period last year, the company posted $0.27 earnings per share. The firm's quarterly revenue was up 99.9% compared to the same quarter last year. As a group, equities analysts predict that Permian Resources Co. will post 1.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Monday, August 19th. Permian Resources's dividend payout ratio (DPR) is presently 19.20%.
Several brokerages have issued reports on PR. Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Permian Resources in a report on Monday, August 12th. UBS Group cut their price target on Permian Resources from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Susquehanna reduced their price objective on Permian Resources from $16.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. cut their target price on shares of Permian Resources from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Thursday, September 12th. Finally, Mizuho reduced their price target on shares of Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $19.20.
Read Our Latest Stock Report on PR
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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