Permian Resources Corporation $PR Shares Purchased by UBS Group AG

Key Points

• UBS Group AG raised its stake in Permian Resources by 39.5% in Q4, ending the quarter with 6,560,632 shares (about a 0.79% ownership) valued at roughly $92.0 million.
• Permian reported Q4 EPS of $0.37, beating estimates by $0.09 while revenue of $1.17 billion missed expectations and fell 9.8% year‑over‑year; the company also raised its quarterly dividend to $0.16 (annualized $0.64, ~2.9% yield).
• Insiders sold significant stock (3,130,066 shares worth about $58.8 million over the last quarter), even as institutional ownership remains high at ~91.8% and major funds like Vanguard and Dimensional increased their holdings.

UBS Group AG increased its stake in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 39.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,560,632 shares of the company's stock after purchasing an additional 1,858,992 shares during the quarter. UBS Group AG owned 0.79% of Permian Resources worth $92,046,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Permian Resources by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company's stock worth $1,057,930,000 after purchasing an additional 3,941,318 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Permian Resources by 20.9% during the third quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company's stock worth $346,919,000 after purchasing an additional 4,691,280 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Permian Resources by 8.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 18,453,672 shares of the company's stock worth $236,207,000 after purchasing an additional 1,421,059 shares during the period. Boston Partners lifted its holdings in shares of Permian Resources by 76.2% during the third quarter. Boston Partners now owns 17,350,663 shares of the company's stock worth $222,099,000 after purchasing an additional 7,503,654 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Permian Resources by 24.7% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 13,263,570 shares of the company's stock worth $169,774,000 after purchasing an additional 2,628,744 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Trading Up 2.1%

Permian Resources stock opened at $22.07 on Friday. The stock has a market cap of $18.45 billion, a PE ratio of 17.65, a P/E/G ratio of 1.25 and a beta of 0.52. The stock has a 50-day moving average price of $19.92 and a 200 day moving average price of $16.27. Permian Resources Corporation has a 52 week low of $11.64 and a 52 week high of $22.11. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.09. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.32 billion. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The firm's quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. Equities research analysts predict that Permian Resources Corporation will post 1.92 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Permian Resources's previous quarterly dividend of $0.15. Permian Resources's dividend payout ratio is currently 51.20%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Zacks Research upgraded Permian Resources from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 27th. Citigroup raised their target price on Permian Resources from $21.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday, March 31st. Wells Fargo & Company raised their target price on Permian Resources from $21.00 to $27.00 and gave the company an "overweight" rating in a report on Friday, April 10th. Bank of America reissued a "neutral" rating and issued a $16.00 target price (down from $17.00) on shares of Permian Resources in a report on Friday, January 16th. Finally, Truist Financial raised their target price on Permian Resources from $24.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Permian Resources currently has an average rating of "Buy" and a consensus price target of $22.38.

Insider Activity at Permian Resources

In other Permian Resources news, CEO William M. Hickey III sold 898,423 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total transaction of $16,513,014.74. Following the transaction, the chief executive officer owned 9,389,405 shares of the company's stock, valued at $172,577,263.90. This represents a 8.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James H. Walter sold 673,425 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total value of $12,377,551.50. Following the transaction, the chief executive officer directly owned 9,389,405 shares in the company, valued at approximately $172,577,263.90. This represents a 6.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,130,066 shares of company stock worth $58,837,655. Company insiders own 5.00% of the company's stock.

About Permian Resources

Permian Resources NYSE: PR is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.

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