Permian Resources Co. (NASDAQ:PR) Position Boosted by Ninepoint Partners LP

Ninepoint Partners LP raised its holdings in Permian Resources Co. (NASDAQ:PR - Free Report) by 20.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,200,000 shares of the company's stock after purchasing an additional 200,000 shares during the period. Permian Resources makes up about 1.7% of Ninepoint Partners LP's portfolio, making the stock its 9th largest holding. Ninepoint Partners LP owned approximately 0.16% of Permian Resources worth $16,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PR. The Manufacturers Life Insurance Company increased its position in shares of Permian Resources by 1.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 84,718 shares of the company's stock worth $796,000 after purchasing an additional 972 shares during the period. Arizona State Retirement System increased its holdings in 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 buying an additional 1,041 shares during the period. Orion Portfolio Solutions LLC increased its holdings in 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 buying an additional 1,275 shares during the period. Delphia USA Inc. raised its position 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 buying an additional 1,897 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Permian Resources by 10.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 20,431 shares of the company's stock worth $214,000 after acquiring an additional 1,906 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Trading Down 0.6 %

NASDAQ PR traded down $0.10 during trading hours on Friday, hitting $17.08. 6,981,325 shares of the company's stock were exchanged, compared to its average volume of 9,501,813. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 14.84 and a beta of 4.35. Permian Resources Co. has a 1-year low of $8.94 and a 1-year high of $18.28. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.42. The stock has a 50-day simple moving average of $16.31 and a 200 day simple moving average of $14.52.

Permian Resources (NASDAQ:PR - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. On average, equities analysts forecast that Permian Resources Co. will post 1.71 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.20 annualized dividend and a dividend yield of 1.17%. Permian Resources's dividend payout ratio is 17.24%.

Insider Transactions at Permian Resources

In other news, CAO Brent P. Jensen sold 203,687 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total value of $2,963,645.85. Following the completion of the sale, the chief accounting officer now directly owns 1,062,345 shares of the company's stock, valued at $15,457,119.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Permian Resources news, CAO Brent P. Jensen sold 203,687 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.55, for a total value of $2,963,645.85. Following the completion of the sale, the chief accounting officer now owns 1,062,345 shares in the company, valued at approximately $15,457,119.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William J. Quinn sold 18,076,849 shares of Permian Resources stock in a transaction on Monday, March 4th. The stock was sold at an average price of $15.71, for a total value of $283,987,297.79. Following the sale, the director now owns 71,056,620 shares in the company, valued at $1,116,299,500.20. The disclosure for this sale can be found here. Insiders have sold 32,916,943 shares of company stock valued at $516,796,999 over the last ninety days. 23.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PR has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, April 12th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $17.00 target price on shares of Permian Resources in a report on Friday, April 12th. Stifel Nicolaus lifted their price target on Permian Resources from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Raymond James assumed coverage on Permian Resources in a research note on Tuesday, April 9th. They issued a "strong-buy" rating and a $24.00 price objective for the company. Finally, Benchmark lifted 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. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of "Moderate Buy" and an average target price of $19.08.

Permian Resources Company 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.