Mutual of America Capital Management LLC Has $10.72 Million Position in Permian Resources Corporation (NYSE:PR)

Mutual of America Capital Management LLC boosted its stake in Permian Resources Corporation (NYSE:PR - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 773,974 shares of the company's stock after buying an additional 20,976 shares during the period. Mutual of America Capital Management LLC owned 0.10% of Permian Resources worth $10,720,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Permian Resources by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company's stock worth $944,487,000 after purchasing an additional 870,622 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Permian Resources by 60.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock valued at $469,856,000 after buying an additional 12,306,854 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Permian Resources during the fourth quarter valued at about $431,676,000. Massachusetts Financial Services Co. MA boosted its stake in Permian Resources by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company's stock valued at $265,209,000 after buying an additional 291,444 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Permian Resources by 55.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company's stock valued at $169,864,000 after buying an additional 4,236,141 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PR shares. Royal Bank Of Canada raised their target price on Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Susquehanna decreased their price target on Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler decreased their price target on Permian Resources from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. UBS Group increased their price target on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company decreased their price target on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $18.33.

Permian Resources Stock Down 0.4%

Permian Resources stock traded down $0.06 during mid-day trading on Tuesday, hitting $13.86. The company's stock had a trading volume of 1,722,895 shares, compared to its average volume of 9,731,567. The firm's 50 day moving average is $13.60 and its 200 day moving average is $13.62. The company has a market cap of $11.13 billion, a PE ratio of 8.55 and a beta of 1.25. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.86 and a quick ratio of 0.86. Permian Resources Corporation has a 52-week low of $10.01 and a 52-week high of $16.95.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $1.37 billion. Permian Resources had a net margin of 22.74% and a return on equity of 11.96%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, analysts anticipate that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.33%. Permian Resources's dividend payout ratio is 37.04%.

Permian Resources 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.