Thomist Capital Management LP Purchases New Holdings in Permian Resources Co. (NYSE:PR)

Thomist Capital Management LP acquired a new position in Permian Resources Co. (NYSE:PR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 138,500 shares of the company's stock, valued at approximately $1,997,000.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. increased its stake in shares of Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after acquiring an additional 852 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock worth $36,000 after purchasing an additional 1,232 shares in the last quarter. Rakuten Securities Inc. increased 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 buying an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC bought a new stake in shares of Permian Resources in the 4th quarter valued at $41,000. Finally, Lindbrook Capital LLC lifted its holdings in shares of Permian Resources by 294.8% during the 4th 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 currently owned by institutional investors.

Permian Resources Price Performance

Permian Resources stock traded down $0.19 during mid-day trading on Friday, reaching $12.67. 2,151,158 shares of the company were exchanged, compared to its average volume of 9,670,518. The company has a fifty day simple moving average of $12.56 and a 200-day simple moving average of $13.89. The firm has a market cap of $10.18 billion, a PE ratio of 7.67, a PEG ratio of 4.05 and a beta of 1.20. Permian Resources Co. has a 12 month low of $10.01 and a 12 month high of $16.95. 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 (NYSE:PR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the company posted $0.25 earnings per share. The firm's quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that Permian Resources Co. will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio (DPR) is 37.04%.

Insider Activity at Permian Resources

In other Permian Resources news, Director William J. Quinn bought 500,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the acquisition, the director now directly owns 812,429 shares of the company's stock, valued at approximately $10,618,447.03. The trade was a 160.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Charles Bell sold 2,804 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the sale, the executive vice president now directly owns 74,433 shares of the company's stock, valued at $1,044,294.99. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,685 shares of company stock worth $135,687 in the last quarter. Company insiders own 6.44% of the company's stock.

Analysts Set New Price Targets

PR has been the subject of several research analyst reports. Susquehanna reduced their price target on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. 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. Morgan Stanley cut their target price on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Bank of America lowered their price objective on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Finally, Williams Trading set a $19.00 target price on shares of Permian Resources in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Permian Resources presently has an average rating of "Moderate Buy" and a consensus target price of $18.63.

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.