Genus Capital Management Inc. Makes New Investment in Permian Resources Corporation (NYSE:PR)

Genus Capital Management Inc. bought a new stake in Permian Resources Corporation (NYSE:PR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 83,000 shares of the company's stock, valued at approximately $1,150,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Permian Resources by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company's stock valued at $944,487,000 after acquiring an additional 870,622 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Permian Resources by 60.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock valued at $469,856,000 after acquiring an additional 12,306,854 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Permian Resources in the fourth quarter valued at approximately $431,676,000. Massachusetts Financial Services Co. MA lifted its holdings in Permian Resources by 1.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company's stock valued at $265,209,000 after acquiring an additional 291,444 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Permian Resources by 55.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company's stock valued at $169,864,000 after buying an additional 4,236,141 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PR shares. UBS Group upped their price target on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Bank of America increased their target price on Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. The Goldman Sachs Group increased their target price on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Raymond James Financial reissued a "strong-buy" rating and set a $23.00 target price (up previously from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. Finally, TD Cowen raised Permian Resources to a "strong-buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Permian Resources currently has an average rating of "Moderate Buy" and an average target price of $18.33.

Permian Resources Trading Down 2.6%

Shares of PR stock traded down $0.36 during mid-day trading on Tuesday, hitting $13.56. The company's stock had a trading volume of 10,876,032 shares, compared to its average volume of 9,766,153. The company's fifty day simple moving average is $13.60 and its 200-day simple moving average is $13.62. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.95. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $10.89 billion, a PE ratio of 8.37 and a beta of 1.25.

Permian Resources (NYSE:PR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. Permian Resources's quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.43%. Permian Resources's payout ratio is currently 37.04%.

Permian Resources Company 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.