Banco Santander S.A. Takes Position in Permian Resources Co. (NYSE:PR)

Banco Santander S.A. acquired a new position in Permian Resources Co. (NYSE:PR - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 38,685 shares of the company's stock, valued at approximately $527,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Hexagon Capital Partners LLC raised its position in shares of Permian Resources by 28,542.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company's stock worth $27,000 after acquiring an additional 1,998 shares in the last quarter. Innealta Capital LLC acquired a new position in Permian Resources during the 2nd quarter worth approximately $30,000. Transcendent Capital Group LLC bought a new stake in shares of Permian Resources during the first quarter valued at approximately $36,000. UMB Bank n.a. lifted its holdings in shares of Permian Resources by 99.2% in the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company's stock worth $38,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in Permian Resources in the 2nd quarter valued at $40,000. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Price Performance

NYSE:PR traded up $0.22 during trading hours on Friday, hitting $16.21. 11,552,035 shares of the company's stock traded hands, compared to its average volume of 9,466,653. The firm has a market cap of $13.02 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.96 and a beta of 4.34. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The business's fifty day simple moving average is $14.28 and its two-hundred day simple moving average is $14.93. Permian Resources Co. has a 52 week low of $12.34 and a 52 week high of $18.28.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The firm's revenue was up 60.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. On average, research analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Thursday, November 14th. This is a boost from Permian Resources's previous quarterly dividend of $0.06. Permian Resources's dividend payout ratio (DPR) is presently 36.36%.

Insiders Place Their Bets

In other news, EVP John Charles Bell sold 4,821 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the transaction, the executive vice president now directly owns 77,237 shares of the company's stock, valued at approximately $1,075,911.41. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PR has been the subject of a number of analyst reports. Truist Financial lifted their price target on Permian Resources from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, November 8th. The Goldman Sachs Group initiated coverage on Permian Resources in a report on Monday, September 30th. They set a "buy" rating and a $19.00 price target for the company. Susquehanna dropped their price objective on Permian Resources from $16.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. Mizuho reduced their target price on shares of Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a research note on Monday, September 16th. Finally, Citigroup dropped their price target on shares of Permian Resources from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.93.

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.