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

Genus Capital Management Inc. purchased a new position in Permian Resources Corporation (NYSE:PR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 83,000 shares of the company's stock, valued at approximately $1,150,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allworth Financial LP raised its position in shares of Permian Resources by 376.7% in the 1st 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 acquired a new position in shares of Permian Resources in the 1st quarter valued at approximately $30,000. Rakuten Securities Inc. raised its position in shares of Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after purchasing an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC acquired a new position in shares of Permian Resources in the 4th quarter valued at approximately $41,000. Finally, Tsfg LLC acquired a new position in shares of Permian Resources in the 1st quarter valued at approximately $46,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PR. The Goldman Sachs Group upped their target price on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Susquehanna cut their target price on Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank Of Canada upped their price target on Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. TD Cowen raised Permian Resources to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Wells Fargo & Company dropped their price target on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

Permian Resources Price Performance

Shares of PR opened at $14.18 on Friday. The company has a market cap of $11.39 billion, a P/E ratio of 8.75 and a beta of 1.25. The stock has a fifty day moving average price of $13.60 and a 200 day moving average price of $13.62. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.86 and a quick ratio of 0.86. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.95.

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

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend was Monday, June 16th. Permian Resources's dividend payout ratio (DPR) is 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.

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