GAMMA Investing LLC Has $92,000 Holdings in Permian Resources Co. (NYSE:PR)

GAMMA Investing LLC grew its stake in Permian Resources Co. (NYSE:PR) by 57.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,406 shares of the company’s stock after purchasing an additional 2,348 shares during the quarter. GAMMA Investing LLC’s holdings in Permian Resources were worth $92,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Permian Resources by 6.1% in the third quarter. State Street Corp now owns 22,027,153 shares of the company’s stock valued at $299,790,000 after purchasing an additional 1,263,460 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Permian Resources by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock valued at $247,042,000 after purchasing an additional 1,543,854 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Permian Resources by 17.6% in the third quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock valued at $148,957,000 after purchasing an additional 1,638,618 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Permian Resources by 20.6% in the second quarter. Renaissance Technologies LLC now owns 9,108,803 shares of the company’s stock valued at $147,107,000 after purchasing an additional 1,555,884 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Permian Resources by 14.5% in the third quarter. Jennison Associates LLC now owns 7,647,329 shares of the company’s stock valued at $104,080,000 after purchasing an additional 966,940 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In related news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.80% of the stock is owned by company insiders.

Permian Resources Stock Performance

NYSE:PR opened at $15.15 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The business has a fifty day simple moving average of $14.79 and a two-hundred day simple moving average of $14.66. Permian Resources Co. has a 1 year low of $12.59 and a 1 year high of $18.28. The company has a market capitalization of $12.17 billion, a P/E ratio of 9.18, a P/E/G ratio of 0.88 and a beta of 4.32.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.21. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. On average, analysts expect that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.96%. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources’s payout ratio is presently 36.36%.

Wall Street Analyst Weigh In

PR has been the topic of a number of recent research reports. UBS Group dropped their target price on Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Wells Fargo & Company dropped their price target on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Truist Financial lifted their price target on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group started coverage on Permian Resources in a report on Monday, September 30th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Morgan Stanley started coverage on Permian Resources in a report on Friday. They set an “overweight” rating and a $19.00 price target on the stock. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.88.

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.