Permian Resources Co. (NYSE:PR) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its position in Permian Resources Co. (NYSE:PR - Free Report) by 34.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,329,757 shares of the company's stock after buying an additional 1,111,754 shares during the period. Ameriprise Financial Inc. owned approximately 0.54% of Permian Resources worth $62,261,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PR. Aptus Capital Advisors LLC raised its holdings in Permian Resources by 320.1% during the 4th quarter. Aptus Capital Advisors LLC now owns 78,287 shares of the company's stock worth $1,126,000 after buying an additional 59,653 shares during the period. Aristeia Capital L.L.C. purchased a new stake in shares of Permian Resources in the 4th quarter valued at approximately $420,000. Mercer Global Advisors Inc. ADV boosted its stake in Permian Resources by 22.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,116 shares of the company's stock worth $275,000 after purchasing an additional 3,507 shares during the period. Freestone Grove Partners LP purchased a new position in Permian Resources during the 4th quarter worth approximately $57,114,000. Finally, Gallo Partners LP acquired a new stake in Permian Resources during the 4th quarter valued at $844,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Price Performance

NYSE:PR opened at $13.04 on Friday. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 4.05 and a beta of 1.20. The company has a 50-day moving average of $12.47 and a 200-day moving average of $13.91. Permian Resources Co. has a 52 week low of $10.01 and a 52 week high of $17.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Permian Resources (NYSE:PR - Get Free Report) last released 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). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. As a group, equities research analysts anticipate that Permian Resources Co. will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Monday, June 16th. Permian Resources's payout ratio is 41.96%.

Insider Buying and Selling

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 represents a 4.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J. Quinn acquired 500,000 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the transaction, the director now directly owns 812,429 shares in the company, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 9,685 shares of company stock worth $135,687 in the last quarter. 6.44% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PR. Williams Trading set a $19.00 price target on Permian Resources in a report on Wednesday, March 5th. Royal Bank of Canada lowered their target price on Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Bank of America reduced their price target on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Susquehanna decreased their target price on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Finally, Truist Financial upped their price target on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.67.

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.

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