Permian Resources Co. (NYSE:PR) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its position in Permian Resources Co. (NYSE:PR - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,288,899 shares of the company's stock after selling 1,216,622 shares during the period. Nuveen Asset Management LLC owned about 2.77% of Permian Resources worth $320,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. McGowan Group Asset Management Inc. lifted its position in shares of Permian Resources by 32.5% in the fourth quarter. McGowan Group Asset Management Inc. now owns 27,223 shares of the company's stock worth $391,000 after buying an additional 6,674 shares in the last quarter. Lazard Asset Management LLC raised its stake in Permian Resources by 23.3% during the fourth quarter. Lazard Asset Management LLC now owns 62,518 shares of the company's stock valued at $897,000 after purchasing an additional 11,797 shares in the last quarter. Janus Henderson Group PLC lifted its position in Permian Resources by 15.6% during the fourth quarter. Janus Henderson Group PLC now owns 264,297 shares of the company's stock valued at $3,802,000 after purchasing an additional 35,700 shares during the last quarter. Ground Swell Capital LLC purchased a new position in Permian Resources in the fourth quarter worth about $187,000. Finally, Ethic Inc. increased its position in shares of Permian Resources by 85.4% during the 4th quarter. Ethic Inc. now owns 25,063 shares of the company's stock valued at $360,000 after purchasing an additional 11,542 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Permian Resources Stock Down 0.3%

Shares of Permian Resources stock traded down $0.04 during trading on Tuesday, hitting $13.30. 2,087,121 shares of the stock traded hands, compared to its average volume of 9,434,257. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock's fifty day simple moving average is $12.58 and its 200 day simple moving average is $13.90. The firm has a market cap of $10.68 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20. Permian Resources Co. has a 52-week low of $10.01 and a 52-week high of $16.95.

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

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, June 16th. Permian Resources's payout ratio is 37.04%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday. Citigroup lowered Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Bank of America cut their price objective on Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Susquehanna reduced their target price on Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Williams Trading set a $19.00 target price on Permian Resources in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Permian Resources has a consensus rating of "Moderate Buy" and an average target price of $18.63.

Insider Activity at Permian Resources

In related news, CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at $822,525.36. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Guy M. Oliphint sold 4,150 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the transaction, the chief financial officer now owns 130,467 shares in the company, valued at $1,825,233.33. This trade represents a 3.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,685 shares of company stock valued at $135,687 over the last ninety days. 6.44% of the stock is owned by company insiders.

About Permian Resources

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.