Permian Resources Co. (NASDAQ:PR) Stock Holdings Lifted by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC lifted its stake in Permian Resources Co. (NASDAQ:PR - Free Report) by 103.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 218,618 shares of the company's stock after purchasing an additional 111,260 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Permian Resources were worth $2,973,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in Permian Resources by 317.9% in the third quarter. Tower Research Capital LLC TRC now owns 24,186 shares of the company's stock worth $338,000 after acquiring an additional 18,398 shares during the period. Zweig DiMenna Associates LLC grew its position in Permian Resources by 35.6% in the third quarter. Zweig DiMenna Associates LLC now owns 501,300 shares of the company's stock worth $6,998,000 after acquiring an additional 131,500 shares during the period. Comerica Bank grew its position in Permian Resources by 110,645.5% in the third quarter. Comerica Bank now owns 946,874 shares of the company's stock worth $13,218,000 after acquiring an additional 946,019 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Permian Resources by 7.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 3,131,126 shares of the company's stock worth $42,584,000 after buying an additional 210,870 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Permian Resources by 26.1% during the fourth quarter. Raymond James & Associates now owns 634,123 shares of the company's stock worth $8,624,000 after buying an additional 131,078 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PR has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on Permian Resources from $18.00 to $20.00 and gave the stock an "overweight" rating in a research report on Friday, April 12th. Mizuho raised their price target on Permian Resources from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, April 15th. Royal Bank of Canada restated an "outperform" rating and set a $17.00 price target on shares of Permian Resources in a research report on Friday, April 12th. Citigroup lifted their target price on Permian Resources from $17.00 to $19.00 and gave the company a "buy" rating in a report on Friday, March 1st. Finally, Raymond James initiated coverage on Permian Resources in a report on Tuesday, April 9th. They issued 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.08.

Permian Resources Stock Performance

Shares of PR traded down $0.10 during midday trading on Friday, reaching $17.08. 6,982,707 shares of the stock were exchanged, compared to its average volume of 8,400,126. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.52 and a quick ratio of 0.52. Permian Resources Co. has a twelve month low of $8.94 and a twelve month high of $18.28. The business's 50-day moving average price is $16.38 and its 200 day moving average price is $14.57. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 14.72 and a beta of 4.35.

Permian Resources (NASDAQ:PR - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. On average, sell-side analysts expect that Permian Resources Co. will post 1.72 EPS for the current fiscal year.

Permian Resources Announces Dividend

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

Insider Buying and Selling

In other Permian Resources news, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of Permian Resources stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total value of $141,390,000.00. Following the sale, the insider now owns 25,477,527 shares of the company's stock, valued at approximately $400,251,949.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Permian Resources news, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of Permian Resources stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total value of $141,390,000.00. Following the sale, the insider now owns 25,477,527 shares of the company's stock, valued at approximately $400,251,949.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William M. Hickey III sold 4,000,000 shares of Permian Resources stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total value of $62,840,000.00. 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 currently owned by insiders.

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.