1,624,604 Shares in Permian Resources Co. (NYSE:PR) Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new position in Permian Resources Co. (NYSE:PR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,624,604 shares of the company's stock, valued at approximately $23,362,000. BNP Paribas Financial Markets owned 0.20% of Permian Resources at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its holdings in shares of Permian Resources by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 4,329,757 shares of the company's stock worth $62,261,000 after buying an additional 1,111,754 shares during the period. Aptus Capital Advisors LLC increased its stake in Permian Resources by 320.1% in the fourth quarter. Aptus Capital Advisors LLC now owns 78,287 shares of the company's stock worth $1,126,000 after purchasing an additional 59,653 shares during the period. Aristeia Capital L.L.C. bought a new stake in shares of Permian Resources during the fourth quarter worth $420,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of Permian Resources by 22.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 19,116 shares of the company's stock valued at $275,000 after purchasing an additional 3,507 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of Permian Resources in the fourth quarter worth about $57,114,000. Institutional investors own 91.84% of the company's stock.

Insiders Place Their Bets

In other news, CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the transaction, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William J. Quinn bought 500,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the transaction, the director now owns 812,429 shares of the company's stock, valued at $10,618,447.03. The trade was a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 9,685 shares of company stock valued at $135,687. Insiders own 6.44% of the company's stock.

Permian Resources Stock Performance

Shares of PR opened at $13.04 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a market cap of $10.48 billion, a PE ratio of 7.90, a P/E/G 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 $17.27. The stock has a fifty day moving average price of $12.47 and a 200-day moving average price of $13.91.

Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 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 business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter last year, the business posted $0.25 earnings per share. The company's quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that Permian Resources Co. will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business 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. The ex-dividend date is Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a yield of 4.60%. Permian Resources's payout ratio is 41.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PR shares. Bank of America lowered their price objective on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Royal Bank of Canada dropped their price objective on Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Citigroup lowered Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Morgan Stanley dropped their price target on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, Susquehanna cut their price target on Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

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.

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