Permian Resources Corporation $PR Shares Bought by Keybank National Association OH

Keybank National Association OH boosted its holdings in shares of Permian Resources Corporation (NYSE:PR) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,825,438 shares of the company’s stock after acquiring an additional 107,920 shares during the period. Keybank National Association OH’s holdings in Permian Resources were worth $38,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PR. Arrowstreet Capital Limited Partnership purchased a new position in Permian Resources during the 1st quarter valued at about $121,041,000. Jennison Associates LLC raised its holdings in shares of Permian Resources by 63.1% in the 1st quarter. Jennison Associates LLC now owns 6,230,034 shares of the company’s stock valued at $132,824,000 after purchasing an additional 2,411,292 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Permian Resources by 66.6% in the 1st quarter. First Trust Advisors LP now owns 5,564,528 shares of the company’s stock worth $118,636,000 after purchasing an additional 2,224,560 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of Permian Resources in the 1st quarter worth approximately $34,065,000. Finally, Goehring & Rozencwajg Associates LLC lifted its position in shares of Permian Resources by 304.0% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,814,700 shares of the company’s stock worth $38,689,000 after purchasing an additional 1,365,465 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Insider Activity at Permian Resources

In related news, EVP John Bell sold 5,492 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total transaction of $130,435.00. Following the completion of the sale, the executive vice president owned 1,561,680 shares of the company’s stock, valued at $37,089,900. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Guy Oliphint sold 5,103 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $23.75, for a total transaction of $121,196.25. Following the completion of the sale, the executive vice president owned 537,400 shares of the company’s stock, valued at approximately $12,763,250. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 15,699 shares of company stock valued at $372,851 over the last 90 days. Insiders own 5.00% of the company’s stock.

Permian Resources Stock Performance

Shares of Permian Resources stock opened at $22.32 on Thursday. The company has a market capitalization of $18.69 billion, a PE ratio of 11.62 and a beta of 0.62. The company has a 50-day simple moving average of $23.28 and a two-hundred day simple moving average of $20.64. Permian Resources Corporation has a one year low of $13.18 and a one year high of $26.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.50 and a current ratio of 0.50.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. Permian Resources had a net margin of 25.04% and a return on equity of 15.56%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the business earned $0.08 EPS. The company’s revenue was up 48.1% compared to the same quarter last year. Research analysts expect that Permian Resources Corporation will post 2.62 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, December 17th. This represents a $0.64 dividend on an annualized basis and a yield of 2.9%. Permian Resources’s dividend payout ratio is presently 33.33%.

Analysts Set New Price Targets

PR has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on shares of Permian Resources from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Susquehanna boosted their price objective on shares of Permian Resources from $25.00 to $30.00 and gave the stock a “positive” rating in a research note on Tuesday, October 20th. Seaport Research Partners assumed coverage on Permian Resources in a report on Thursday, September 3rd. They set a “buy” rating and a $29.00 target price for the company. Citigroup upped their target price on Permian Resources from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Finally, Truist Financial increased their target price on Permian Resources from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Five investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $26.61.

Permian Resources Company Profile

Permian Resources Corporation is an independent oil and natural gas company focused on the exploration, development and production of oil, natural gas and natural gas liquids. Its operations are concentrated in the Delaware Basin, part of the Permian Basin in West Texas and southeastern New Mexico. The company develops its acreage through drilling and related production activities, with a focus on operating and expanding its position in the Delaware Basin. Its production is sold into energy markets and used across a range of industrial and consumer applications.