Gallacher Capital Management LLC Invests $931,000 in Permian Resources Corporation $PR

Gallacher Capital Management LLC bought a new stake in Permian Resources Corporation (NYSE:PR) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 43,645 shares of the company’s stock, valued at approximately $931,000.

Several other institutional investors also recently bought and sold shares of the stock. SJS Investment Consulting Inc. grew its position in Permian Resources by 1,862.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock worth $30,000 after acquiring an additional 1,341 shares during the last quarter. SHP Wealth Management purchased a new position in Permian Resources in the 4th quarter worth approximately $27,000. Cedar Mountain Advisors LLC bought a new stake in Permian Resources in the first quarter valued at approximately $48,000. Los Angeles Capital Management LLC bought a new stake in Permian Resources in the fourth quarter valued at approximately $39,000. Finally, State of Wyoming boosted its stake in shares of Permian Resources by 126.8% during the fourth quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after purchasing an additional 1,640 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Permian Resources

In other news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the sale, the executive vice president directly owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. This trade represents a 10.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Permian Resources Price Performance

PR opened at $19.71 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $16.51 billion, a PE ratio of 22.92 and a beta of 0.46. The stock’s 50 day moving average price is $19.43 and its 200-day moving average price is $18.52. Permian Resources Corporation has a 52-week low of $11.92 and a 52-week high of $22.67.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. On average, equities research analysts predict that Permian Resources Corporation will post 1.91 EPS for the current year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0.16 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.2%. Permian Resources’s dividend payout ratio is 74.42%.

Analyst Ratings Changes

PR has been the topic of several recent analyst reports. Raymond James Financial cut their target price on shares of Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, June 17th. Roth Capital set a $23.00 price target on shares of Permian Resources and gave the company a “buy” rating in a research report on Monday, June 22nd. KeyCorp began coverage on shares of Permian Resources in a report on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 price target on the stock. Evercore started coverage on shares of Permian Resources in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $25.00 price objective on the stock. Finally, Weiss Ratings cut shares of Permian Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $23.24.

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.