Gamco Investors INC. ET AL Has $1.77 Million Stake in Permian Resources Co. (NASDAQ:PR)

Gamco Investors INC. ET AL lifted its position in shares of Permian Resources Co. (NASDAQ:PR) by 11.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Permian Resources were worth $1,766,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PR. Global Retirement Partners LLC bought a new stake in Permian Resources during the first quarter worth $25,000. YHB Investment Advisors Inc. bought a new stake in Permian Resources during the first quarter worth $26,000. Parallel Advisors LLC grew its holdings in Permian Resources by 117.0% during the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock worth $30,000 after buying an additional 1,178 shares in the last quarter. Rise Advisors LLC bought a new stake in Permian Resources during the first quarter worth $32,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Permian Resources during the fourth quarter worth $33,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Price Performance

NASDAQ:PR traded down $0.08 during mid-day trading on Friday, reaching $15.31. The stock had a trading volume of 8,878,541 shares, compared to its average volume of 11,690,083. The firm has a 50 day moving average price of $15.87 and a two-hundred day moving average price of $15.77. The stock has a market capitalization of $11.79 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.61 and a beta of 4.37. Permian Resources Co. has a one year low of $10.93 and a one year high of $18.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.55 and a current ratio of 0.55.

Permian Resources (NASDAQ:PR) last released its earnings results on Tuesday, May 7th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.17 billion. Permian Resources had a return on equity of 11.43% and a net margin of 13.90%. As a group, analysts expect that Permian Resources Co. will post 1.7 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 21st were paid a $0.06 dividend. This is a boost from Permian Resources’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Monday, May 20th. Permian Resources’s payout ratio is 21.82%.

Insiders Place Their Bets

In other news, Director Jeffrey Tepper sold 65,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $16.42, for a total transaction of $1,067,300.00. Following the transaction, the director now directly owns 158,665 shares of the company’s stock, valued at $2,605,279.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PR shares. Wolfe Research started coverage on Permian Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Benchmark restated a “buy” rating and issued a $17.00 price objective on shares of Permian Resources in a research note on Tuesday, April 23rd. Wells Fargo & Company upped their price objective on Permian Resources from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. BMO Capital Markets upgraded Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Wednesday, July 3rd. Finally, Mizuho increased their price target on Permian Resources from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.43.

Permian Resources Company 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.