Inscription Capital LLC Makes New Investment in Permian Resources Corporation (NYSE:PR)

Inscription Capital LLC acquired a new position in shares of Permian Resources Corporation (NYSE:PR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,513 shares of the company's stock, valued at approximately $298,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Permian Resources by 60.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock valued at $469,856,000 after purchasing an additional 12,306,854 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Permian Resources in the 4th quarter valued at $431,676,000. Massachusetts Financial Services Co. MA lifted its position in shares of Permian Resources by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company's stock worth $265,209,000 after purchasing an additional 291,444 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Permian Resources by 7.2% during the 4th quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company's stock worth $196,025,000 after purchasing an additional 909,740 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on PR. Wells Fargo & Company dropped their target price on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday. The Goldman Sachs Group upped their price objective on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Bank of America increased their price objective on Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. decreased their target price on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, 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 report 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Permian Resources has a consensus rating of "Moderate Buy" and an average price target of $18.50.

Permian Resources Stock Performance

Shares of PR opened at $14.70 on Thursday. The company's 50 day simple moving average is $12.80 and its 200-day simple moving average is $13.67. The firm has a market cap of $11.81 billion, a PE ratio of 9.07 and a beta of 1.24. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $16.95. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.34.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly 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). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. As a group, equities analysts predict that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Monday, June 16th. Permian Resources's dividend payout ratio is currently 37.04%.

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.

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