Permian Resources Corporation $PR Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in Permian Resources by 34.0%, selling 183,793 shares and retaining 356,825 shares valued at about $5.03 million.
• Insider selling was substantial: CEO James H. Walter sold 673,425 shares for roughly $12.38 million, and insiders sold a total of 3,130,066 shares (~$58.8 million) over the last three months, leaving insiders with a 5.0% ownership stake.
• Operationally, Permian posted a Q4 EPS beat ($0.37 vs. $0.28) but missed revenue expectations ($1.17B vs. $1.32B), raised its quarterly dividend to $0.16 (annualized $0.64, ~3.1% yield), and carries an average analyst rating of "Buy" with a $22.38 target.

Universal Beteiligungs und Servicegesellschaft mbH lowered its holdings in Permian Resources Corporation (NYSE:PR - Free Report) by 34.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,825 shares of the company's stock after selling 183,793 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Permian Resources were worth $5,026,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Permian Resources by 114.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company's stock worth $25,000 after purchasing an additional 1,047 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Permian Resources by 340.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company's stock worth $57,000 after buying an additional 3,224 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Permian Resources in the fourth quarter worth about $60,000. Allworth Financial LP boosted its holdings in shares of Permian Resources by 18.7% in the third quarter. Allworth Financial LP now owns 6,445 shares of the company's stock worth $82,000 after buying an additional 1,015 shares during the period. Finally, Hilltop National Bank boosted its holdings in shares of Permian Resources by 27.4% in the fourth quarter. Hilltop National Bank now owns 7,009 shares of the company's stock worth $98,000 after buying an additional 1,509 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Stock Performance

PR stock opened at $20.90 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $17.47 billion, a P/E ratio of 16.72, a P/E/G ratio of 2.60 and a beta of 0.56. The firm has a 50 day simple moving average of $19.76 and a 200 day simple moving average of $16.17. Permian Resources Corporation has a 52 week low of $11.58 and a 52 week high of $21.99.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.32 billion. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. Research analysts anticipate that Permian Resources Corporation will post 1.88 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.1%. This is a boost from Permian Resources's previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, March 17th. Permian Resources's dividend payout ratio is presently 51.20%.

Analyst Ratings Changes

Several research analysts have commented on PR shares. Bank of America reiterated a "neutral" rating and issued a $16.00 target price (down from $17.00) on shares of Permian Resources in a report on Friday, January 16th. Truist Financial raised their price target on shares of Permian Resources from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Roth Mkm restated a "neutral" rating and set a $22.00 price target (up from $20.00) on shares of Permian Resources in a report on Wednesday, April 8th. Citigroup raised their price target on shares of Permian Resources from $21.00 to $26.00 and gave the stock a "buy" rating in a report on Tuesday, March 31st. Finally, BMO Capital Markets upgraded shares of Permian Resources from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 7th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $22.38.

Insider Transactions at Permian Resources

In other Permian Resources news, CEO James H. Walter sold 673,425 shares of Permian Resources stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total value of $12,377,551.50. Following the completion of the sale, the chief executive officer directly owned 9,389,405 shares in the company, valued at $172,577,263.90. The trade was a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aron Marquez sold 7,750 shares of Permian Resources stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $19.62, for a total transaction of $152,055.00. Following the completion of the sale, the director owned 72,218 shares of the company's stock, valued at $1,416,917.16. This trade represents a 9.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 3,130,066 shares of company stock valued at $58,837,655. Insiders own 5.00% of the company's stock.

About Permian Resources

Permian Resources NYSE: PR is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.

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