River Road Asset Management LLC reduced its stake in shares of Permian Resources Co. (NASDAQ:PR - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,600,184 shares of the company's stock after selling 47,226 shares during the period. Permian Resources accounts for 1.4% of River Road Asset Management LLC's investment portfolio, making the stock its 18th biggest holding. River Road Asset Management LLC owned 0.98% of Permian Resources worth $103,363,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Permian Resources by 1.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 84,718 shares of the company's stock valued at $796,000 after purchasing an additional 972 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Permian Resources by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 71,590 shares of the company's stock valued at $999,000 after purchasing an additional 1,041 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Permian Resources by 2.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 62,816 shares of the company's stock valued at $877,000 after purchasing an additional 1,275 shares during the last quarter. Delphia USA Inc. lifted its stake in shares of Permian Resources by 6.0% in the 1st quarter. Delphia USA Inc. now owns 33,303 shares of the company's stock valued at $350,000 after purchasing an additional 1,897 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Permian Resources by 10.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 20,431 shares of the company's stock valued at $214,000 after purchasing an additional 1,906 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.
Permian Resources Stock Performance
Shares of PR traded down $0.08 during trading hours on Wednesday, reaching $17.53. 6,987,631 shares of the company traded hands, compared to its average volume of 9,566,038. The stock's fifty day moving average is $16.24 and its 200 day moving average is $14.51. The stock has a market cap of $13.53 billion, a P/E ratio of 15.11 and a beta of 4.35. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52. Permian Resources Co. has a 1-year low of $8.94 and a 1-year high of $18.28.
Permian Resources (NASDAQ:PR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. Equities research analysts anticipate that Permian Resources Co. will post 1.69 earnings per share for the current fiscal year.
Permian Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 13th were paid a $0.05 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.20 dividend on an annualized basis and a yield of 1.14%. Permian Resources's payout ratio is currently 17.24%.
Analyst Ratings Changes
Several research firms recently issued reports on PR. Wells Fargo & Company lifted their price objective on shares of Permian Resources from $18.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday. Citigroup boosted their target price on shares of Permian Resources from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, March 1st. Bank of America began coverage on shares of Permian Resources in a research report on Friday, January 5th. They set a "neutral" rating and a $15.00 target price for the company. Benchmark boosted their target price on shares of Permian Resources from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Finally, Raymond James began coverage on shares of Permian Resources in a research report on Tuesday, April 9th. They set a "strong-buy" rating and a $24.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.00.
Get Our Latest Analysis on PR
Insider Activity at Permian Resources
In related news, Director Robert John Anderson sold 1,000,000 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total value of $15,710,000.00. Following the sale, the director now owns 476,306 shares of the company's stock, valued at $7,482,767.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert John Anderson sold 1,000,000 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total value of $15,710,000.00. Following the sale, the director now owns 476,306 shares of the company's stock, valued at $7,482,767.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of the company's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total transaction of $141,390,000.00. Following the sale, the insider now directly owns 25,477,527 shares in the company, valued at $400,251,949.17. The disclosure for this sale can be found here. Insiders have sold a total of 32,916,943 shares of company stock valued at $516,796,999 over the last quarter. 23.14% of the stock is owned by company insiders.
Permian Resources Company Profile
(
Free Report)
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.
Featured Stories
Before you consider Permian Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Permian Resources wasn't on the list.
While Permian Resources currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
