Deutsche Bank AG grew its holdings in shares of Permian Resources Co. (NYSE:PR - Free Report) by 96.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,140,160 shares of the company's stock after acquiring an additional 1,049,358 shares during the period. Deutsche Bank AG owned about 0.27% of Permian Resources worth $30,776,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Dean Capital Management acquired a new stake in shares of Permian Resources during the fourth quarter worth $1,618,000. Crestline Management LP lifted its stake in shares of Permian Resources by 222.4% in the 4th quarter. Crestline Management LP now owns 97,874 shares of the company's stock valued at $1,407,000 after purchasing an additional 67,512 shares during the period. Cetera Investment Advisers boosted its position in shares of Permian Resources by 28.8% during the 4th quarter. Cetera Investment Advisers now owns 57,596 shares of the company's stock valued at $828,000 after purchasing an additional 12,868 shares in the last quarter. Brevan Howard Capital Management LP increased its holdings in Permian Resources by 761.1% in the fourth quarter. Brevan Howard Capital Management LP now owns 114,528 shares of the company's stock worth $1,647,000 after purchasing an additional 101,228 shares in the last quarter. Finally, Bridgefront Capital LLC lifted its stake in Permian Resources by 7.8% in the fourth quarter. Bridgefront Capital LLC now owns 47,414 shares of the company's stock valued at $682,000 after buying an additional 3,442 shares during the period. Institutional investors own 91.84% of the company's stock.
Insider Activity
In other news, CFO Guy M. Oliphint sold 4,150 shares of the business's stock in a transaction on Monday, March 3rd. The stock was 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 directly owns 130,467 shares of the company's stock, valued at $1,825,233.33. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the sale, the chief accounting officer now directly owns 58,668 shares of the company's stock, 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 quarter, insiders sold 9,685 shares of company stock worth $135,687. 6.44% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on PR shares. Citigroup lowered shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their price target on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada increased their price target on shares of Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Friday. Susquehanna decreased 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, UBS Group upped their target price on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. One research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.33.
Read Our Latest Research Report on PR
Permian Resources Trading Down 1.8%
Shares of NYSE:PR traded down $0.25 during midday trading on Monday, reaching $13.26. 719,689 shares of the company's stock were exchanged, compared to its average volume of 9,679,211. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 4.05 and a beta of 1.20. The firm's 50 day simple moving average is $12.58 and its two-hundred day simple moving average is $13.90. Permian Resources Co. has a fifty-two week low of $10.01 and a fifty-two 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 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the business posted $0.25 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Permian Resources Co. will post 1.45 EPS for the current fiscal year.
Permian Resources Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Monday, June 16th. Permian Resources's dividend payout ratio is currently 37.04%.
About Permian Resources
(
Free Report)
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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