Thomist Capital Management LP Buys Shares of 138,500 Permian Resources Co. (NYSE:PR)

Thomist Capital Management LP purchased a new position in shares of Permian Resources Co. (NYSE:PR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 138,500 shares of the company's stock, valued at approximately $1,997,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. increased its position in Permian Resources by 36.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 34,345 shares of the company's stock worth $494,000 after purchasing an additional 9,165 shares during the last quarter. UMB Bank n.a. increased its stake in Permian Resources by 61.2% during the 4th quarter. UMB Bank n.a. now owns 4,500 shares of the company's stock worth $65,000 after buying an additional 1,709 shares during the period. Regent Peak Wealth Advisors LLC acquired a new position in Permian Resources in the 4th quarter worth $185,000. Perpetual Ltd purchased a new position in Permian Resources in the 4th quarter valued at about $27,104,000. Finally, Janney Montgomery Scott LLC boosted its position in Permian Resources by 11.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,542 shares of the company's stock valued at $410,000 after buying an additional 2,884 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Insider Activity

In related news, CFO Guy M. Oliphint sold 4,150 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the sale, the chief financial officer now directly owns 130,467 shares of the company's stock, valued at approximately $1,825,233.33. This represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at approximately $822,525.36. This represents a 4.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,685 shares of company stock worth $135,687. 6.44% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. JPMorgan Chase & Co. lowered their price objective on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. UBS Group increased their target price on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Monday, May 12th. The Goldman Sachs Group boosted their price target on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Williams Trading set a $19.00 price target on Permian Resources in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Permian Resources currently has a consensus rating of "Moderate Buy" and an average target price of $18.63.

Permian Resources Stock Performance

Permian Resources stock traded down $0.32 during midday trading on Wednesday, reaching $12.95. 8,160,770 shares of the stock traded hands, compared to its average volume of 9,705,984. The firm has a fifty day moving average price of $12.59 and a two-hundred day moving average price of $13.90. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 4.05 and a beta of 1.20. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a fifty-two week low of $10.01 and a fifty-two week high of $16.95.

Permian Resources (NYSE:PR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 prior year, the company earned $0.25 EPS. The business's quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research 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 paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Monday, June 16th. Permian Resources's payout ratio is currently 37.04%.

About Permian Resources

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.