Permian Resources Corporation $PR Shares Sold by Strs Ohio

Strs Ohio trimmed its stake in Permian Resources Corporation (NYSE:PR) by 19.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,343 shares of the company’s stock after selling 96,439 shares during the period. Strs Ohio’s holdings in Permian Resources were worth $5,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Permian Resources by 86.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 23,963,307 shares of the company’s stock valued at $326,380,000 after acquiring an additional 11,133,354 shares during the period. Boston Partners purchased a new stake in Permian Resources during the 2nd quarter valued at approximately $134,119,000. Holocene Advisors LP acquired a new stake in Permian Resources during the 2nd quarter worth approximately $42,606,000. American Century Companies Inc. increased its holdings in shares of Permian Resources by 20.3% in the second quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock valued at $150,409,000 after purchasing an additional 1,863,632 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Permian Resources by 62.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,788,871 shares of the company’s stock worth $48,498,000 after purchasing an additional 1,458,315 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

Permian Resources Price Performance

Permian Resources stock opened at $14.76 on Tuesday. The stock has a market capitalization of $12.24 billion, a P/E ratio of 13.54 and a beta of 0.66. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $15.45. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50-day moving average is $14.26 and its two-hundred day moving average is $13.65.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Equities analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a $0.15 dividend. The ex-dividend date was Wednesday, December 17th. This represents a $0.60 annualized dividend and a yield of 4.1%. Permian Resources’s payout ratio is 55.05%.

Analysts Set New Price Targets

Several analysts have recently commented on PR shares. Wells Fargo & Company reduced their target price on shares of Permian Resources from $21.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Zacks Research downgraded Permian Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Piper Sandler cut their price objective on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. UBS Group increased their price target on shares of Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.64.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CEO William M. Hickey III sold 467,725 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $6,375,091.75. Following the transaction, the chief executive officer owned 1,010,136 shares of the company’s stock, valued at $13,768,153.68. This trade represents a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO James H. Walter sold 467,700 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $6,374,751.00. Following the completion of the transaction, the chief executive officer directly owned 1,010,138 shares in the company, valued at $13,768,180.94. This trade represents a 31.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,210,456 shares of company stock worth $30,231,728. 12.80% of the stock is currently owned by insiders.

About Permian Resources

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.