Nuveen Asset Management LLC Has $320.51 Million Stake in Permian Resources Co. (NYSE:PR)

Nuveen Asset Management LLC reduced its holdings in shares of Permian Resources Co. (NYSE:PR - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,288,899 shares of the company's stock after selling 1,216,622 shares during the quarter. Nuveen Asset Management LLC owned 2.77% of Permian Resources worth $320,514,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PR. Principal Securities Inc. increased its holdings in shares of Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after buying an additional 852 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after acquiring an additional 1,232 shares in the last quarter. Rakuten Securities Inc. grew its position in Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after acquiring an additional 2,305 shares during the last quarter. RE Dickinson Investment Advisors LLC acquired a new position in Permian Resources in the 4th quarter worth about $41,000. Finally, Lindbrook Capital LLC raised its position in Permian Resources by 294.8% in the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after purchasing an additional 2,155 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director William J. Quinn acquired 500,000 shares of Permian Resources stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the purchase, the director now owns 812,429 shares of the company's stock, valued at approximately $10,618,447.03. The trade was a 160.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Robert Regan Shannon sold 2,731 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. The trade was a 4.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,685 shares of company stock worth $135,687. Corporate insiders own 6.44% of the company's stock.

Permian Resources Trading Down 0.4%

NYSE PR traded down $0.06 during mid-day trading on Friday, reaching $13.50. 6,532,569 shares of the stock were exchanged, compared to its average volume of 9,714,087. The stock has a market cap of $10.84 billion, a P/E ratio of 8.18, a P/E/G ratio of 4.05 and a beta of 1.20. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a one year low of $10.01 and a one year high of $16.95. The stock has a 50 day simple moving average of $12.58 and a 200-day simple moving average of $13.90.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the business posted $0.25 earnings per share. The business's revenue was up 10.7% on a year-over-year basis. On average, analysts anticipate that Permian Resources Co. will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio (DPR) is presently 37.04%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PR. Bank of America reduced their price target on Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Williams Trading set a $19.00 target price on shares of Permian Resources in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada raised their price target on shares of Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday. Finally, The Goldman Sachs Group lifted their price target on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.33.

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.