Permian Resources Co. (NYSE:PR) Shares Purchased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc boosted its stake in shares of Permian Resources Co. (NYSE:PR - Free Report) by 31.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,846 shares of the company's stock after buying an additional 94,757 shares during the quarter. Ensign Peak Advisors Inc's holdings in Permian Resources were worth $5,750,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Principal Securities Inc. increased its stake in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after buying an additional 852 shares during the period. Global Retirement Partners LLC boosted its holdings in Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after purchasing an additional 1,232 shares during the period. Rakuten Securities Inc. grew its stake in Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after purchasing an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC purchased a new stake in Permian Resources during the 4th quarter worth about $41,000. Finally, Lindbrook Capital LLC boosted its stake in shares of Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after buying an additional 2,155 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Stock Performance

PR traded down $0.25 during trading on Monday, hitting $13.27. The stock had a trading volume of 1,000,492 shares, compared to its average volume of 9,681,355. The firm has a market capitalization of $10.66 billion, a P/E ratio of 8.04, a PEG ratio of 4.05 and a beta of 1.20. Permian Resources Co. has a twelve month low of $10.01 and a twelve month high of $16.95. The company's 50-day moving average price is $12.58 and its 200 day moving average price is $13.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company earned $0.25 EPS. The company's revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Permian Resources Co. will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Monday, June 16th. Permian Resources's dividend payout ratio is currently 37.04%.

Insiders Place Their Bets

In other news, Director William J. Quinn purchased 500,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired 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 in the company, valued at approximately $10,618,447.03. The trade was a 160.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, the chief accounting officer now owns 58,668 shares in the company, valued at approximately $822,525.36. The trade was a 4.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,685 shares of company stock worth $135,687. 6.44% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. The Goldman Sachs Group increased their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Williams Trading set a $19.00 target price on Permian Resources in a report on Wednesday, March 5th. Finally, Citigroup downgraded Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

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.