Permian Resources Co. (NYSE:PR) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund raised its stake in Permian Resources Co. (NYSE:PR - Free Report) by 147.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 525,700 shares of the company's stock after purchasing an additional 313,400 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.07% of Permian Resources worth $7,155,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in Permian Resources by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company's stock worth $247,042,000 after purchasing an additional 1,543,854 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Permian Resources by 59.6% in the second quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company's stock worth $194,585,000 after acquiring an additional 4,497,184 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Permian Resources by 20.6% in the 2nd quarter. Renaissance Technologies LLC now owns 9,108,803 shares of the company's stock valued at $147,107,000 after acquiring an additional 1,555,884 shares during the period. Jennison Associates LLC lifted its holdings in shares of Permian Resources by 14.5% during the 3rd quarter. Jennison Associates LLC now owns 7,647,329 shares of the company's stock valued at $104,080,000 after acquiring an additional 966,940 shares in the last quarter. Finally, Merewether Investment Management LP boosted its position in Permian Resources by 148.1% during the 2nd quarter. Merewether Investment Management LP now owns 5,900,449 shares of the company's stock worth $95,292,000 after purchasing an additional 3,522,300 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Robert Regan Shannon sold 4,822 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the transaction, the chief accounting officer now owns 61,399 shares in the company, valued at $855,288.07. The trade was a 7.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Charles Bell sold 4,821 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now owns 77,237 shares of the company's stock, valued at approximately $1,075,911.41. The trade was a 5.88 % 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 corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup reduced their price objective on Permian Resources from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. UBS Group reduced their price target on Permian Resources from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Susquehanna lowered their price objective on shares of Permian Resources from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, September 4th. The Goldman Sachs Group started coverage on shares of Permian Resources in a research report on Monday, September 30th. They set a "buy" rating and a $19.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Permian Resources from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Permian Resources has a consensus rating of "Moderate Buy" and a consensus price target of $18.93.

Permian Resources Stock Up 0.4 %

Shares of Permian Resources stock traded up $0.07 during trading on Friday, reaching $15.66. The company had a trading volume of 2,105,405 shares, compared to its average volume of 9,986,091. The company has a market cap of $12.58 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 0.94 and a beta of 4.34. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The firm's fifty day moving average is $14.45 and its 200-day moving average is $14.92. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

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

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Permian Resources's previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 3.83%. Permian Resources's dividend payout ratio (DPR) is 36.36%.

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.