Ensign Peak Advisors Inc Has $5.75 Million Stock Holdings in Permian Resources Co. (NYSE:PR)

Ensign Peak Advisors Inc increased its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 31.1% during the fourth quarter, according to 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 acquiring 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 large investors have also made changes to their positions in PR. Principal Securities Inc. grew its position in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. Global Retirement Partners LLC grew its position in Permian Resources by 98.4% during 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 in the last quarter. Rakuten Securities Inc. grew its position in Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after purchasing an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC purchased a new position in Permian Resources during the fourth quarter valued at approximately $41,000. Finally, Lindbrook Capital LLC grew its position in Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after purchasing an additional 2,155 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Insider Activity at Permian Resources

In other Permian Resources news, Director William J. Quinn acquired 500,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the purchase, the director now owns 812,429 shares in the company, valued at $10,618,447.03. This represents a 160.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Charles Bell sold 2,804 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total transaction of $39,340.12. Following the completion of the transaction, the executive vice president now owns 74,433 shares of the company's stock, valued at approximately $1,044,294.99. This represents a 3.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,685 shares of company stock worth $135,687 in the last ninety days. 6.44% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PR has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted 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. Susquehanna decreased their target price on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley decreased their target price on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. UBS Group boosted their target price on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Bank of America decreased their target price 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.33.

Permian Resources Stock Performance

Shares of NYSE PR traded down $0.06 during trading hours on Friday, hitting $13.50. 6,532,569 shares of the stock were exchanged, compared to its average volume of 9,705,007. 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 company's 50 day moving average is $12.58 and its 200 day moving average is $13.90. The firm has a market capitalization of $10.84 billion, a P/E ratio of 8.18, a P/E/G ratio of 4.05 and a beta of 1.20. Permian Resources Co. has a one year low of $10.01 and a one year high of $16.95.

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

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.45%. The ex-dividend date is Monday, June 16th. Permian Resources's payout ratio is currently 37.04%.

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.