194,300 Shares in Permian Resources Co. (NASDAQ:PR) Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC purchased a new stake in Permian Resources Co. (NASDAQ:PR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 194,300 shares of the company’s stock, valued at approximately $2,642,000.

A number of other hedge funds have also modified their holdings of PR. Arizona State Retirement System raised its holdings in Permian Resources by 1.5% in the third quarter. Arizona State Retirement System now owns 71,590 shares of the company’s stock valued at $999,000 after acquiring an additional 1,041 shares in the last quarter. Truist Financial Corp lifted its stake in Permian Resources by 9.4% during the fourth quarter. Truist Financial Corp now owns 12,653 shares of the company’s stock worth $172,000 after purchasing an additional 1,086 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Permian Resources by 2.1% in the third quarter. Orion Portfolio Solutions LLC now owns 62,816 shares of the company’s stock valued at $877,000 after purchasing an additional 1,275 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Permian Resources by 6.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 34,491 shares of the company’s stock worth $481,000 after buying an additional 1,981 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Permian Resources by 6.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 33,704 shares of the company’s stock valued at $471,000 after buying an additional 2,063 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PR. Mizuho boosted their price objective on Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Piper Sandler upped their price objective on Permian Resources from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Wells Fargo & Company lifted their price objective on shares of Permian Resources from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Benchmark restated a “buy” rating and issued a $17.00 target price on shares of Permian Resources in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Permian Resources in a research report on Friday, April 12th. Three 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. Based on data from MarketBeat, Permian Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.31.

Permian Resources Stock Performance

Shares of PR opened at $17.56 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.52 and a quick ratio of 0.52. Permian Resources Co. has a 12-month low of $8.94 and a 12-month high of $18.28. The business’s fifty day moving average price is $16.95 and its 200 day moving average price is $14.79. The stock has a market capitalization of $13.55 billion, a PE ratio of 15.07 and a beta of 4.32.

Permian Resources (NASDAQ:PR) last issued its earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. Equities research analysts forecast that Permian Resources Co. will post 1.66 EPS 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 issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.14%. The ex-dividend date was Tuesday, March 12th. Permian Resources’s payout ratio is currently 17.24%.

Insider Activity at Permian Resources

In other news, CAO Brent P. Jensen sold 203,687 shares of Permian Resources 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 transaction, the chief accounting officer now owns 1,062,345 shares of the company’s stock, valued at approximately $15,457,119.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Permian Resources news, CAO Brent P. Jensen sold 203,687 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the completion of the sale, the chief accounting officer now directly owns 1,062,345 shares of the company’s stock, valued at $15,457,119.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $141,390,000.00. Following the sale, the insider now owns 25,477,527 shares in the company, valued at approximately $400,251,949.17. The disclosure for this sale can be found here. Insiders sold 32,916,943 shares of company stock worth $516,796,999 in the last 90 days. Corporate insiders own 12.80% of the company’s stock.

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.