OneDigital Investment Advisors LLC Makes New $161,000 Investment in Permian Resources Co. (NYSE:PR)

OneDigital Investment Advisors LLC purchased a new stake in Permian Resources Co. (NYSE:PR) during the third quarter, according to its most recent filing with the SEC. The firm purchased 11,844 shares of the company’s stock, valued at approximately $161,000.

Several other large investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its position in Permian Resources by 9.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,607,623 shares of the company’s stock valued at $268,213,000 after acquiring an additional 1,471,833 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Permian Resources by 59.6% during the second quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company’s stock worth $194,585,000 after purchasing an additional 4,497,184 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Permian Resources by 20.6% during the 2nd quarter. Renaissance Technologies LLC now owns 9,108,803 shares of the company’s stock valued at $147,107,000 after purchasing an additional 1,555,884 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Permian Resources by 480.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,054,560 shares of the company’s stock valued at $106,924,000 after purchasing an additional 5,012,287 shares during the last quarter. Finally, Merewether Investment Management LP boosted its position in shares of Permian Resources by 148.1% in the 2nd quarter. Merewether Investment Management LP now owns 5,900,449 shares of the company’s stock worth $95,292,000 after purchasing an additional 3,522,300 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

Insider Transactions at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of the firm’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 $67,170.46. Following the sale, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. This trade represents a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 $1,075,911.41. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Permian Resources from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. UBS Group cut their price objective on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Piper Sandler lifted their target price on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Wells Fargo & Company dropped their target price on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Finally, Benchmark decreased their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.93.

Permian Resources Trading Up 1.4 %

NYSE PR opened at $16.21 on Friday. The company has a fifty day moving average of $14.28 and a 200 day moving average of $14.95. The company has a market capitalization of $13.02 billion, a PE ratio of 9.82, a P/E/G ratio of 0.96 and a beta of 4.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a 1 year low of $12.34 and a 1 year high of $18.28.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.21. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. Research analysts forecast that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.70%. The ex-dividend date was Thursday, November 14th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio is currently 36.36%.

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.