Public Employees Retirement Association of Colorado lifted its position in shares of Permian Resources Corporation (NYSE:PR – Free Report) by 21.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,229,822 shares of the company’s stock after purchasing an additional 213,400 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Permian Resources were worth $17,254,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in PR. Los Angeles Capital Management LLC bought a new stake in shares of Permian Resources during the fourth quarter worth about $39,000. State of Wyoming grew its holdings in shares of Permian Resources by 126.8% during the fourth quarter. State of Wyoming now owns 2,933 shares of the company’s stock worth $41,000 after purchasing an additional 1,640 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Permian Resources by 340.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock worth $57,000 after purchasing an additional 3,224 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Permian Resources during the fourth quarter worth about $60,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Permian Resources by 126.1% during the fourth quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company’s stock worth $62,000 after purchasing an additional 2,477 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Permian Resources
In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the transaction, the executive vice president directly owned 542,503 shares of the company’s stock, valued at approximately $11,088,761.32. The trade was a 10.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J. Quinn sold 512,429 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $19.59, for a total value of $10,038,484.11. Following the completion of the transaction, the director directly owned 6,914,410 shares in the company, valued at approximately $135,453,291.90. This trade represents a 6.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 582,948 shares of company stock valued at $11,473,537. 5.00% of the stock is currently owned by company insiders.
Permian Resources Price Performance
Permian Resources (NYSE:PR – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts expect that Permian Resources Corporation will post 2.01 EPS for the current year.
Permian Resources Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.4%. Permian Resources’s payout ratio is 74.42%.
Analysts Set New Price Targets
Several analysts have recently weighed in on PR shares. TD Cowen lifted their price objective on Permian Resources from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Scotiabank lifted their price objective on Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $21.00 price objective on shares of Permian Resources in a research note on Thursday, February 26th. Piper Sandler lifted their price objective on Permian Resources from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Finally, Truist Financial lifted their price objective on Permian Resources from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $22.69.
Check Out Our Latest Research Report on PR
Permian Resources Company Profile
Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.
Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.
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