Permian Resources Co. (NYSE:PR) Holdings Raised by Natixis Advisors LLC

Natixis Advisors LLC boosted its stake in Permian Resources Co. (NYSE:PR) by 29.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,499,643 shares of the company’s stock after buying an additional 343,998 shares during the quarter. Natixis Advisors LLC owned approximately 0.19% of Permian Resources worth $21,565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Securities Inc. raised its holdings in shares of Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Permian Resources in the 4th quarter valued at $31,000. Global Retirement Partners LLC grew its stake in Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after buying an additional 1,232 shares during the last quarter. Rakuten Securities Inc. grew its stake in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after buying an additional 2,305 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after buying an additional 2,155 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insiders Place Their Bets

In related news, Director William J. Quinn bought 500,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the purchase, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. The trade was a 160.04 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,446 shares of company stock valued at $269,731. Insiders own 12.80% of the company’s stock.

Permian Resources Trading Down 0.2 %

Shares of PR stock opened at $13.61 on Tuesday. Permian Resources Co. has a 12-month low of $11.84 and a 12-month high of $18.28. The company has a market capitalization of $10.93 billion, a P/E ratio of 8.25, a P/E/G ratio of 4.05 and a beta of 4.30. The firm has a 50-day moving average price of $14.39 and a 200 day moving average price of $14.34. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio is presently 41.96%.

Analyst Ratings Changes

PR has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Truist Financial raised their price target on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Williams Trading set a $19.00 price target on shares of Permian Resources in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Piper Sandler reduced their price objective on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.35.

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.