Deutsche Bank AG Grows Position in Permian Resources Co. (NYSE:PR)

Deutsche Bank AG boosted its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 96.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 0.27% of Permian Resources worth $30,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PR. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Permian Resources by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock valued at $2,021,000 after purchasing an additional 662 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Permian Resources by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company's stock valued at $2,540,000 after buying an additional 700 shares in the last quarter. CIBC Asset Management Inc increased its position in Permian Resources by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock valued at $226,000 after buying an additional 805 shares in the last quarter. Principal Securities Inc. raised its stake in Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after buying an additional 852 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Permian Resources by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company's stock worth $1,862,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Insider Activity

In related news, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at approximately $822,525.36. The trade was 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, EVP John Charles Bell sold 2,804 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the completion of the sale, the executive vice president now directly owns 74,433 shares of the company's stock, valued at approximately $1,044,294.99. The trade was a 3.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,685 shares of company stock valued at $135,687 in the last three months. 6.44% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PR has been the topic of several recent analyst reports. Citigroup downgraded shares of Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. Royal Bank of Canada raised 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. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research note on Wednesday, March 5th. Morgan Stanley cut their target price on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, UBS Group lifted their price target on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.33.

Permian Resources Stock Performance

NYSE PR traded down $0.06 on Friday, hitting $13.50. 6,532,569 shares of the company's stock traded hands, compared to its average volume of 9,705,007. 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 firm has a market capitalization of $10.84 billion, a PE ratio of 8.18, a P/E/G ratio of 4.05 and a beta of 1.20. The firm's 50-day moving average price is $12.58 and its two-hundred day moving average price is $13.90. Permian Resources Co. has a 1-year low of $10.01 and a 1-year 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). The firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.37 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. Permian Resources's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. As a group, analysts expect that Permian Resources Co. will post 1.45 EPS for the current 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio (DPR) is 37.04%.

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.