Tudor Investment Corp ET AL Has $20.93 Million Position in Permian Resources Corporation $PR
by Mitch Edgeman · The Markets DailyTudor Investment Corp ET AL increased its position in Permian Resources Corporation (NYSE:PR – Free Report) by 14,373.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,635,450 shares of the company’s stock after purchasing an additional 1,624,150 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Permian Resources were worth $20,934,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Boston Partners bought a new stake in Permian Resources in the second quarter valued at approximately $134,119,000. Vanguard Group Inc. boosted its stake in shares of Permian Resources by 10.4% during the 3rd quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock worth $914,733,000 after acquiring an additional 6,705,644 shares during the period. Millennium Management LLC increased its holdings in shares of Permian Resources by 210.6% during the 3rd quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock worth $126,081,000 after acquiring an additional 6,678,814 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Permian Resources by 20.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company’s stock worth $346,919,000 after acquiring an additional 4,691,280 shares during the last quarter. Finally, Merewether Investment Management LP raised its stake in Permian Resources by 63.5% in the 3rd quarter. Merewether Investment Management LP now owns 8,836,137 shares of the company’s stock valued at $113,103,000 after acquiring an additional 3,431,900 shares during the period. Institutional investors own 91.84% of the company’s stock.
Analyst Upgrades and Downgrades
PR has been the subject of several research reports. Benchmark downgraded Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. The Goldman Sachs Group increased their price objective on shares of Permian Resources from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Mizuho raised their target price on shares of Permian Resources from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Royal Bank Of Canada lifted their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Finally, TD Cowen increased their price target on shares of Permian Resources from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $20.85.
View Our Latest Research Report on PR
Insider Buying and Selling
In other Permian Resources news, Director Aron Marquez sold 7,750 shares of Permian Resources stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $19.62, for a total value of $152,055.00. Following the completion of the transaction, the director directly owned 72,218 shares of the company’s stock, valued at $1,416,917.16. The trade was a 9.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James H. Walter sold 673,425 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total value of $12,377,551.50. Following the sale, the chief executive officer owned 9,389,405 shares of the company’s stock, valued at approximately $172,577,263.90. The trade was a 6.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,340,522 shares of company stock valued at $89,069,383 in the last quarter. Corporate insiders own 6.44% of the company’s stock.
Permian Resources Stock Up 0.6%
PR opened at $20.08 on Friday. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $20.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $16.66 billion, a P/E ratio of 16.07, a P/E/G ratio of 4.00 and a beta of 0.66. The stock has a fifty day moving average of $17.08 and a 200-day moving average of $14.77.
Permian Resources (NYSE:PR – Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company posted $0.36 earnings per share. Permian Resources’s revenue was down 9.8% compared to the same quarter last year. On average, equities analysts expect that Permian Resources Corporation will post 1.45 EPS for the current year.
Permian Resources Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.16 dividend. The ex-dividend date is Tuesday, March 17th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.2%. Permian Resources’s dividend payout ratio (DPR) is presently 51.20%.
About Permian Resources
Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.
Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.
Further Reading
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