Strs Ohio Grows Stock Position in Permian Resources Co. (NASDAQ:PR)

Strs Ohio raised its holdings in Permian Resources Co. (NASDAQ:PR) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,800 shares of the company’s stock after buying an additional 10,500 shares during the quarter. Strs Ohio’s holdings in Permian Resources were worth $840,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new position in Permian Resources in the fourth quarter valued at $33,000. Clearstead Advisors LLC acquired a new stake in Permian Resources during the 3rd quarter worth approximately $45,000. Optimum Investment Advisors purchased a new position in Permian Resources in the fourth quarter valued at approximately $50,000. Fifth Third Bancorp lifted its position in Permian Resources by 1,290.7% during the fourth quarter. Fifth Third Bancorp now owns 4,172 shares of the company’s stock valued at $57,000 after buying an additional 3,872 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in Permian Resources during the third quarter worth approximately $60,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Brent P. Jensen sold 203,687 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total value of $2,963,645.85. Following the completion of the sale, the chief accounting officer now owns 1,062,345 shares in the company, valued at $15,457,119.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Brent P. Jensen sold 203,687 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total value of $2,963,645.85. Following the sale, the chief accounting officer now directly owns 1,062,345 shares in the company, valued at approximately $15,457,119.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brent P. Jensen sold 1,853 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $27,127.92. Following the sale, the chief accounting officer now owns 1,047,610 shares of the company’s stock, valued at $15,337,010.40. The disclosure for this sale can be found here. Insiders have sold a total of 32,916,943 shares of company stock valued at $516,796,999 over the last quarter. Corporate insiders own 23.14% of the company’s stock.

Permian Resources Stock Performance

Shares of PR opened at $17.26 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52. Permian Resources Co. has a 1 year low of $8.94 and a 1 year high of $18.28. The firm has a fifty day moving average of $16.58 and a 200-day moving average of $14.65. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 13.02 and a beta of 4.35.

Permian Resources (NASDAQ:PR) last posted its earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. As a group, equities analysts anticipate that Permian Resources Co. will post 1.66 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 13th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.16%. Permian Resources’s dividend payout ratio is presently 17.24%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America began coverage on shares of Permian Resources in a report on Friday, January 5th. They set a “neutral” rating and a $15.00 target price on the stock. Wells Fargo & Company upped their target price on Permian Resources from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Truist Financial raised their target price on Permian Resources from $22.00 to $23.00 and gave the company a “buy” rating in a report on Monday. Susquehanna upped their price target on Permian Resources from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Piper Sandler lifted their price objective on shares of Permian Resources from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.31.

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.