Permian Resources Corporation (NYSE:PR) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC reduced its holdings in Permian Resources Corporation by 23.9%, selling 358,064 shares, leaving it with 1,141,579 shares valued at approximately $15.8 million.
• Several research firms have raised their target prices for Permian Resources, with Piper Sandler increasing it from $19.00 to $20.00 and Goldman Sachs from $14.00 to $16.00, indicating strong growth potential.
• Permian Resources announced a quarterly dividend of $0.15 per share, representing an annual yield of 4.4% and a payout ratio of 37.04%.

Natixis Advisors LLC lessened its stake in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,141,579 shares of the company's stock after selling 358,064 shares during the quarter. Natixis Advisors LLC owned 0.14% of Permian Resources worth $15,811,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PR. OneDigital Investment Advisors LLC grew its stake in shares of Permian Resources by 19.2% in the first quarter. OneDigital Investment Advisors LLC now owns 19,274 shares of the company's stock valued at $267,000 after buying an additional 3,107 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Permian Resources by 12.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 32,089 shares of the company's stock valued at $444,000 after purchasing an additional 3,547 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Permian Resources by 8.5% in the 1st quarter. Crossmark Global Holdings Inc. now owns 28,385 shares of the company's stock valued at $393,000 after purchasing an additional 2,215 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Permian Resources by 27.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,693 shares of the company's stock worth $425,000 after purchasing an additional 6,600 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in Permian Resources during the 1st quarter worth about $174,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Analysts Set New Price Targets

PR has been the topic of several recent research reports. Bank of America boosted their price objective on shares of Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Royal Bank Of Canada raised their target price on shares of Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. The Goldman Sachs Group raised their price objective on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Raymond James Financial restated a "strong-buy" rating and issued a $23.00 price target (up previously from $20.00) on shares of Permian Resources in a report on Monday, May 19th. Finally, Wells Fargo & Company dropped their price target on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $18.47.

Permian Resources Stock Performance

NYSE PR traded down $0.11 during trading hours on Wednesday, reaching $13.60. The company's stock had a trading volume of 14,018,891 shares, compared to its average volume of 10,091,303. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $13.86 and a 200 day simple moving average of $13.48. Permian Resources Corporation has a 52 week low of $10.01 and a 52 week high of $16.33. The stock has a market cap of $10.92 billion, a PE ratio of 8.39 and a beta of 1.32.

Permian Resources (NYSE:PR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.27. Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. Equities research analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

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.