Fox Run Management L.L.C. Takes $769,000 Position in Permian Resources Corporation $PR

Key Points

• Fox Run Management L.L.C. has acquired 55,551 shares of Permian Resources Corporation, valued at approximately $769,000, indicating a growing interest from institutional investors in the company.
• Permian Resources announced a quarterly dividend of $0.15, translating to an annualized yield of 4.5%, with a payout ratio of 38.96%.
• The firm reported an EPS of $0.27 for the last quarter, aligning with analyst expectations, but noted a 3.9% decrease in revenue year-over-year.

Fox Run Management L.L.C. bought a new stake in Permian Resources Corporation (NYSE:PR - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 55,551 shares of the company's stock, valued at approximately $769,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP raised its stake in shares of Permian Resources by 376.7% during the first quarter. Allworth Financial LP now owns 2,069 shares of the company's stock valued at $29,000 after purchasing an additional 1,635 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Permian Resources during the first quarter valued at about $30,000. Tsfg LLC bought a new stake in shares of Permian Resources during the first quarter valued at about $46,000. Hexagon Capital Partners LLC raised its stake in shares of Permian Resources by 30.8% during the first quarter. Hexagon Capital Partners LLC now owns 3,909 shares of the company's stock valued at $54,000 after purchasing an additional 921 shares in the last quarter. Finally, SouthState Corp bought a new stake in shares of Permian Resources during the first quarter valued at about $55,000. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Trading Up 1.4%

PR stock traded up $0.1850 during mid-day trading on Wednesday, reaching $13.2450. 5,154,996 shares of the stock traded hands, compared to its average volume of 10,138,665. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.34. Permian Resources Corporation has a 52-week low of $10.01 and a 52-week high of $16.33. The company has a market cap of $10.60 billion, a P/E ratio of 8.61 and a beta of 1.32. The stock's fifty day moving average is $13.88 and its 200-day moving average is $13.34.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, meeting analysts' consensus estimates of $0.27. Permian Resources had a net margin of 22.41% and a return on equity of 10.91%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The business's quarterly revenue was down 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 16th. Permian Resources's payout ratio is 38.96%.

Analysts Set New Price Targets

PR has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of Permian Resources from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Susquehanna lifted their price objective on shares of Permian Resources from $19.00 to $20.00 and gave the company a "positive" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group lifted their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Morgan Stanley lifted their target price on Permian Resources from $17.00 to $18.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Bank of America lifted their target price on Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Permian Resources currently has an average rating of "Buy" and a consensus target price of $18.53.

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.