Permian Resources Corporation $PR Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its stake in Permian Resources Corporation (NYSE:PR) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 780,719 shares of the company’s stock after purchasing an additional 6,745 shares during the period. Mutual of America Capital Management LLC’s holdings in Permian Resources were worth $10,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of PR. Allworth Financial LP lifted its holdings in shares of Permian Resources by 376.7% in the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company’s stock valued at $29,000 after buying an additional 1,635 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in shares of Permian Resources in the 1st quarter valued at about $30,000. Keystone Global Partners LLC acquired a new position in shares of Permian Resources in the 1st quarter valued at about $36,000. Brooklyn Investment Group raised its holdings in Permian Resources by 433.9% in the 1st quarter. Brooklyn Investment Group now owns 3,118 shares of the company’s stock worth $43,000 after purchasing an additional 2,534 shares during the period. Finally, Tsfg LLC acquired a new position in Permian Resources in the 1st quarter worth about $46,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, EVP John Charles Bell sold 4,743 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total transaction of $67,398.03. Following the completion of the transaction, the executive vice president owned 107,569 shares of the company’s stock, valued at $1,528,555.49. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert Regan Shannon sold 4,742 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $14.22, for a total value of $67,431.24. Following the completion of the sale, the executive vice president directly owned 91,805 shares of the company’s stock, valued at approximately $1,305,467.10. This represents a 4.91% decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $12.28 on Monday. The business has a 50 day simple moving average of $13.36 and a two-hundred day simple moving average of $13.20. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.33. The stock has a market capitalization of $9.83 billion, a P/E ratio of 7.98 and a beta of 1.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.63 and a quick ratio of 0.63.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, August 6th. The company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. As a group, analysts predict that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.9%. Permian Resources’s dividend payout ratio is presently 38.96%.

Wall Street Analyst Weigh In

PR has been the subject of a number of analyst reports. Scotiabank initiated coverage on Permian Resources in a report on Friday, September 19th. They issued a “sector outperform” rating and a $21.00 price target for the company. Susquehanna upped their price target on Permian Resources from $19.00 to $20.00 and gave the stock a “positive” rating in a report on Wednesday, July 23rd. TD Cowen raised Permian Resources to a “strong-buy” rating in a report on Monday, July 7th. Piper Sandler upped their price target on Permian Resources from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Finally, Mizuho reduced their price target on Permian Resources from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $18.67.

Permian Resources 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.