Permian Resources Co. (NASDAQ:PR) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc decreased its position in shares of Permian Resources Co. (NASDAQ:PR) by 14.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 216,039 shares of the company’s stock after selling 36,115 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Permian Resources were worth $3,489,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. YHB Investment Advisors Inc. acquired a new stake in Permian Resources in the 1st quarter valued at approximately $26,000. Parallel Advisors LLC boosted its holdings in shares of Permian Resources by 117.0% in the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company’s stock valued at $30,000 after acquiring an additional 1,178 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Permian Resources during the second quarter valued at approximately $30,000. Rise Advisors LLC bought a new stake in Permian Resources during the first quarter worth approximately $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in Permian Resources in the first quarter worth approximately $36,000. Institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the transaction, the executive vice president now owns 77,237 shares in the company, valued at approximately $1,075,911.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at $855,288.07. The disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.

Permian Resources Trading Down 5.0 %

Shares of NASDAQ PR opened at $13.06 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a one year low of $12.34 and a one year high of $18.28. The business has a 50-day moving average price of $14.30 and a two-hundred day moving average price of $15.78. The firm has a market capitalization of $10.06 billion, a PE ratio of 11.87, a PEG ratio of 0.81 and a beta of 4.33.

Permian Resources (NASDAQ:PR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue was up 99.9% on a year-over-year basis. As a group, analysts predict that Permian Resources Co. will post 1.53 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Wall Street Analyst Weigh In

PR has been the topic of a number of research reports. Citigroup dropped their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Wednesday, July 3rd. Truist Financial lifted their price objective on shares of Permian Resources from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. UBS Group cut their target price on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Bank of America restated a “buy” rating and issued a $20.00 price target on shares of Permian Resources in a research report on Friday, June 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.50.

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.