MML Investors Services LLC Purchases Shares of 43,072 Permian Resources Co. (NYSE:PR)

MML Investors Services LLC acquired a new stake in Permian Resources Co. (NYSE:PR - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 43,072 shares of the company's stock, valued at approximately $586,000.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of Permian Resources by 17.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,833 shares of the company's stock worth $110,000 after buying an additional 1,032 shares during the period. Retirement Systems of Alabama raised its position in Permian Resources by 9.8% during the second quarter. Retirement Systems of Alabama now owns 633,912 shares of the company's stock worth $10,238,000 after acquiring an additional 56,576 shares during the period. Bank of New York Mellon Corp lifted its holdings in Permian Resources by 59.6% during the second quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company's stock valued at $194,585,000 after purchasing an additional 4,497,184 shares in the last quarter. State of Michigan Retirement System grew its position in shares of Permian Resources by 9.8% in the second quarter. State of Michigan Retirement System now owns 123,700 shares of the company's stock valued at $1,998,000 after purchasing an additional 11,000 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Permian Resources by 726.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 97,264 shares of the company's stock worth $1,571,000 after purchasing an additional 85,499 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Trading Up 1.2 %

NYSE:PR traded up $0.16 on Monday, reaching $13.76. The company's stock had a trading volume of 6,330,921 shares, compared to its average volume of 9,857,932. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 0.88 and a beta of 4.35. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 12-month low of $12.59 and a 12-month high of $18.28. The stock has a 50 day moving average price of $14.60 and a 200 day moving average price of $14.75.

Permian Resources (NYSE:PR - Get Free Report) last issued 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. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the firm earned $0.36 EPS. Permian Resources's revenue was up 60.3% on a year-over-year basis. On average, equities analysts anticipate that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.36%. 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%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PR. UBS Group decreased their price target on shares of Permian Resources from $19.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, September 18th. The Goldman Sachs Group assumed coverage on Permian Resources in a research note on Monday, September 30th. They issued a "buy" rating and a $19.00 price target on the stock. Mizuho dropped their price target on Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a research report on Monday, September 16th. Truist Financial raised their price objective on Permian Resources from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, Piper Sandler dropped their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.87.

Permian Resources Company 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.