11,009 Shares in Permian Resources Co. (NYSE:PR) Bought by Quest Partners LLC

Quest Partners LLC acquired a new stake in Permian Resources Co. (NYSE:PR) in the third quarter, HoldingsChannel reports. The institutional investor acquired 11,009 shares of the company’s stock, valued at approximately $150,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. California State Teachers Retirement System lifted its stake in Permian Resources by 11.2% during the first quarter. California State Teachers Retirement System now owns 435,627 shares of the company’s stock worth $7,693,000 after purchasing an additional 43,901 shares during the period. Janus Henderson Group PLC boosted its stake in Permian Resources by 88.3% in the 1st quarter. Janus Henderson Group PLC now owns 330,382 shares of the company’s stock valued at $5,833,000 after buying an additional 154,907 shares in the last quarter. Tributary Capital Management LLC grew its position in Permian Resources by 8,360.8% in the third quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock valued at $699,000 after acquiring an additional 50,750 shares during the period. South Street Advisors LLC acquired a new position in Permian Resources during the third quarter worth $7,142,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Permian Resources during the third quarter valued at $556,000. 91.84% of the stock is owned by institutional investors.

Permian Resources Trading Down 0.3 %

PR opened at $15.59 on Friday. The firm has a 50 day simple moving average of $14.39 and a 200 day simple moving average of $14.92. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 0.94 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 (NYSE:PR) last issued its earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.32 by $0.21. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 60.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were given a dividend of $0.15 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Thursday, November 14th. Permian Resources’s payout ratio is presently 36.36%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group dropped 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 report on Wednesday, September 18th. Mizuho cut their target price on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Truist Financial increased their price target on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group started coverage on Permian Resources in a research report on Monday, September 30th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Citigroup lowered their target price on Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and an average price target of $18.93.

Insider Activity

In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the transaction, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. The trade was a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the sale, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by company insiders.

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.