Permian Resources Corporation $PR Shares Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board raised its position in shares of Permian Resources Corporation (NYSE:PR) by 57.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 136,121 shares of the company’s stock after purchasing an additional 49,853 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Permian Resources were worth $1,854,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PR. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Permian Resources by 154.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock worth $31,000 after buying an additional 1,391 shares during the period. Keystone Global Partners LLC acquired a new stake in Permian Resources in the 1st quarter valued at approximately $36,000. FNY Investment Advisers LLC bought a new stake in Permian Resources during the 2nd quarter valued at $36,000. Parkside Financial Bank & Trust boosted its position in Permian Resources by 90.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after acquiring an additional 1,357 shares during the period. Finally, Brooklyn Investment Group grew its stake in shares of Permian Resources by 433.9% in the first quarter. Brooklyn Investment Group now owns 3,118 shares of the company’s stock worth $43,000 after purchasing an additional 2,534 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Performance

Shares of PR opened at $13.65 on Monday. The firm’s 50 day moving average is $12.96 and its 200-day moving average is $13.39. The stock has a market capitalization of $11.32 billion, a P/E ratio of 12.52 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.67 and a quick ratio of 0.67. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $16.33.

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

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.4%. Permian Resources’s dividend payout ratio (DPR) is currently 55.05%.

Insiders Place Their Bets

In related news, EVP John Charles Bell sold 4,743 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $14.21, for a total value of $67,398.03. Following the completion of the transaction, the executive vice president owned 107,569 shares in the company, valued at $1,528,555.49. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert Regan Shannon sold 4,742 shares of Permian Resources stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total value of $67,431.24. Following the completion of the transaction, the executive vice president directly owned 91,805 shares in the company, valued at $1,305,467.10. This represents a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 6.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Permian Resources from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Susquehanna increased their price objective on shares of Permian Resources from $19.00 to $20.00 and gave the company a “positive” rating in a report on Wednesday, July 23rd. Mizuho lowered their price objective on shares of Permian Resources from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Weiss Ratings cut Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, The Goldman Sachs Group upped their target price on Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Permian Resources has an average rating of “Moderate Buy” and an average target price of $18.87.

About Permian Resources

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.