GF Fund Management CO. LTD. Makes New $2.78 Million Investment in Permian Resources Co. (NYSE:PR)

GF Fund Management CO. LTD. bought a new position in Permian Resources Co. (NYSE:PR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 193,471 shares of the company's stock, valued at approximately $2,782,000.

Other large investors have also bought and sold shares of the company. Principal Securities Inc. grew its position in shares of Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after purchasing an additional 1,232 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Permian Resources by 1,152.5% in the fourth 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 purchased a new position in shares of Permian Resources in the fourth quarter valued at $41,000. Finally, Lindbrook Capital LLC grew its position in shares of Permian Resources by 294.8% in the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after purchasing an additional 2,155 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Guy M. Oliphint sold 4,150 shares of Permian Resources stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the sale, the chief financial officer now owns 130,467 shares in the company, valued at $1,825,233.33. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the transaction, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. The trade was a 4.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,685 shares of company stock valued at $135,687. Insiders own 6.44% of the company's stock.

Permian Resources Trading Down 1.0%

Permian Resources stock traded down $0.13 during trading hours on Wednesday, reaching $12.70. The company had a trading volume of 7,452,203 shares, compared to its average volume of 9,684,002. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $16.95. The company has a 50-day moving average price of $12.49 and a 200 day moving average price of $13.84. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 7.70, a P/E/G ratio of 4.05 and a beta of 1.20.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts forecast that Permian Resources Co. will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio (DPR) is presently 37.04%.

Analyst Upgrades and Downgrades

PR has been the subject of several recent research reports. Williams Trading set a $19.00 price target on Permian Resources in a research report on Wednesday, March 5th. Royal Bank of Canada lifted their price objective on Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Bank of America lifted their price objective on Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Raymond James reissued a "strong-buy" rating and set a $23.00 price objective (up previously from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. Finally, The Goldman Sachs Group lifted their price objective on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Permian Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.56.

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.