Zurcher Kantonalbank Zurich Cantonalbank Has $1.57 Million Stock Holdings in Permian Resources Co. (NASDAQ:PR)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Permian Resources Co. (NASDAQ:PR - Free Report) by 110.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,089 shares of the company's stock after purchasing an additional 60,474 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Permian Resources were worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PR. Vanguard Group Inc. increased its stake in shares of Permian Resources by 17.1% during the third quarter. Vanguard Group Inc. now owns 28,467,963 shares of the company's stock valued at $397,413,000 after acquiring an additional 4,148,519 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Permian Resources by 14.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,694,799 shares of the company's stock valued at $93,459,000 after acquiring an additional 870,496 shares during the period. Jennison Associates LLC acquired a new position in shares of Permian Resources during the third quarter valued at approximately $76,629,000. Westfield Capital Management Co. LP acquired a new position in shares of Permian Resources during the third quarter valued at approximately $54,744,000. Finally, Northern Trust Corp increased its stake in shares of Permian Resources by 35.6% during the third quarter. Northern Trust Corp now owns 3,672,866 shares of the company's stock valued at $51,273,000 after acquiring an additional 964,362 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Stock Up 0.2 %

Shares of Permian Resources stock traded up $0.04 during midday trading on Friday, reaching $17.37. 5,322,954 shares of the company's stock traded hands, compared to its average volume of 9,309,260. The company has a market cap of $13.41 billion, a price-to-earnings ratio of 14.94 and a beta of 4.35. The company's 50 day simple moving average is $16.63 and its 200 day simple moving average is $14.67. 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 52 week low of $8.94 and a 52 week high of $18.28.

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 for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. Equities analysts expect that Permian Resources Co. will post 1.66 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 13th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.20 annualized dividend and a yield of 1.15%. Permian Resources's dividend payout ratio (DPR) is presently 17.24%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PR. Piper Sandler raised their target price on shares of Permian Resources from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. Stifel Nicolaus raised their target price on shares of Permian Resources from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. Bank of America began coverage on shares of Permian Resources in a report on Friday, January 5th. They set a "neutral" rating and a $15.00 target price for the company. Wells Fargo & Company raised their target price on shares of Permian Resources from $18.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, April 17th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $17.00 target price on shares of Permian Resources in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.31.

Insider Buying and Selling

In other news, CAO Brent P. Jensen sold 203,687 shares of the business's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the transaction, 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 legal filing 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 business's 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 transaction, 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 legal filing with the SEC, which is available at this hyperlink. Also, CAO Brent P. Jensen sold 1,853 shares of the business's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the transaction, the chief accounting officer now directly owns 1,047,610 shares of the company's stock, valued at $15,337,010.40. The disclosure for this sale can be found here. Insiders have sold 32,916,943 shares of company stock worth $516,796,999 in the last quarter. 23.14% of the stock is currently owned by company insiders.

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.