Permian Resources Corporation $PR Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Permian Resources Corporation (NYSE:PR - Free Report) by 46.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 142,098 shares of the company's stock after acquiring an additional 45,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Permian Resources were worth $3,001,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PR. Cedar Mountain Advisors LLC purchased a new position in shares of Permian Resources during the 1st quarter worth about $48,000. Essential Partners LLC boosted its position in shares of Permian Resources by 4,400.0% in the first quarter. Essential Partners LLC now owns 3,240 shares of the company's stock worth $69,000 after acquiring an additional 3,168 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Permian Resources in the first quarter valued at approximately $72,000. Bessemer Group Inc. grew its holdings in Permian Resources by 21.3% in the first quarter. Bessemer Group Inc. now owns 3,537 shares of the company's stock valued at $76,000 after purchasing an additional 621 shares during the period. Finally, Root Financial Partners LLC grew its holdings in Permian Resources by 195.4% in the first quarter. Root Financial Partners LLC now owns 4,505 shares of the company's stock valued at $96,000 after purchasing an additional 2,980 shares during the period. Hedge funds and other institutional investors own 91.84% of the company's stock.

Insider Buying and Selling

In other Permian Resources news, EVP John Bell sold 5,492 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $130,435.00. Following the sale, the executive vice president directly owned 1,561,680 shares of the company's stock, valued at $37,089,900. This trade represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Robert Shannon sold 5,104 shares of Permian Resources stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total transaction of $121,220.00. Following the completion of the sale, the executive vice president owned 1,346,698 shares in the company, valued at approximately $31,984,077.50. This represents a 0.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 15,699 shares of company stock valued at $372,851. Insiders own 5.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and set a $34.00 price target on shares of Permian Resources in a research note on Monday. Wells Fargo & Company boosted their price objective on shares of Permian Resources from $27.00 to $28.00 and gave the company an "overweight" rating in a research note on Wednesday, October 14th. Weiss Ratings upgraded Permian Resources from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. UBS Group upped their price objective on Permian Resources from $24.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, September 14th. Finally, Stifel Nicolaus initiated coverage on Permian Resources in a research report on Thursday, September 10th. They issued a "buy" rating and a $30.00 target price on the stock. Five investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $26.67.

Permian Resources Trading Down 5.7%

PR opened at $24.54 on Tuesday. The firm's 50 day moving average is $23.43 and its 200-day moving average is $20.38. Permian Resources Corporation has a 52-week low of $12.06 and a 52-week high of $26.07. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $20.55 billion, a P/E ratio of 16.25 and a beta of 0.66.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. Permian Resources had a return on equity of 13.47% and a net margin of 21.52%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the business posted $0.28 earnings per share. Permian Resources's revenue for the quarter was up 55.1% on a year-over-year basis. Analysts expect that Permian Resources Corporation will post 2.43 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.64 dividend on an annualized basis and a yield of 2.6%. Permian Resources's dividend payout ratio (DPR) is currently 42.38%.

Permian Resources Profile

Permian Resources Corporation NYSE: PR is an independent oil and natural gas company focused on the acquisition, development, and production of hydrocarbons in the Permian Basin. Its operations are concentrated in the Delaware Basin, a prolific oil-producing region spanning southeastern New Mexico and West Texas.

The company's production portfolio includes crude oil, natural gas, and natural gas liquids. Permian Resources develops its acreage through horizontal drilling and multi-well development programs, with activities that include drilling, completion, production, and infrastructure management.

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