Hardin Capital Partners LLC Invests $227,000 in Permian Resources Co. (NASDAQ:PR)

Hardin Capital Partners LLC acquired a new stake in shares of Permian Resources Co. (NASDAQ:PR) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,080 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in Permian Resources during the first quarter worth $25,000. YHB Investment Advisors Inc. acquired a new position in Permian Resources in the first quarter valued at about $26,000. Parallel Advisors LLC grew its stake in Permian Resources by 117.0% during the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after buying an additional 1,178 shares during the last quarter. Innealta Capital LLC bought a new stake in Permian Resources during the second quarter worth about $30,000. Finally, Rise Advisors LLC acquired a new stake in shares of Permian Resources during the first quarter worth approximately $32,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP John Charles Bell sold 4,821 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Robert Regan Shannon sold 4,822 shares of Permian Resources 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 of the company’s stock, valued at $855,288.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the company’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 directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PR shares. BMO Capital Markets raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Wednesday, July 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Permian Resources in a research note on Monday, August 12th. Benchmark reiterated a “buy” rating and issued a $17.00 price objective on shares of Permian Resources in a research report on Wednesday, August 7th. Truist Financial upped their target price on shares of Permian Resources from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Bank of America reiterated a “buy” rating and set a $20.00 price target on shares of Permian Resources in a research report on Friday, June 14th. 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 stock. According to MarketBeat.com, Permian Resources currently has an average rating of “Moderate Buy” and a consensus target price of $19.71.

Permian Resources Trading Up 0.9 %

Shares of Permian Resources stock opened at $13.16 on Friday. Permian Resources Co. has a 52-week low of $12.34 and a 52-week high of $18.28. The stock has a market cap of $10.56 billion, a PE ratio of 8.58, a PEG ratio of 0.71 and a beta of 4.33. The firm has a 50-day moving average of $14.80 and a 200-day moving average of $15.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50.

Permian Resources (NASDAQ:PR) last released its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. Permian Resources’s quarterly revenue was up 99.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. As a group, sell-side analysts forecast that Permian Resources Co. will post 1.63 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.82%. Permian Resources’s dividend payout ratio (DPR) is currently 21.82%.

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.