Natixis Advisors LLC Has $15.73 Million Stake in Permian Resources Co. (NYSE:PR)

Natixis Advisors LLC lowered its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,155,645 shares of the company's stock after selling 111,254 shares during the quarter. Natixis Advisors LLC owned 0.14% of Permian Resources worth $15,729,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PR. Innealta Capital LLC bought a new position in Permian Resources during the 2nd quarter worth about $30,000. Hexagon Capital Partners LLC grew its holdings in Permian Resources by 28,542.9% during 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. Transcendent Capital Group LLC bought a new position in Permian Resources during the 1st quarter worth about $36,000. Gilliland Jeter Wealth Management LLC bought a new position in Permian Resources during the 2nd quarter worth about $40,000. Finally, UMB Bank n.a. grew its holdings in Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company's stock worth $38,000 after acquiring an additional 1,390 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Insider Activity at Permian Resources

In other news, CAO Robert Regan Shannon sold 4,822 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were 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 directly owns 61,399 shares in the company, valued at approximately $855,288.07. This represents a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the firm'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 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 disclosure for this sale can be found here. 12.80% of the stock is owned by company insiders.

Permian Resources Price Performance

Shares of Permian Resources stock traded up $0.23 during trading on Wednesday, hitting $15.36. The stock had a trading volume of 2,010,495 shares, compared to its average volume of 10,020,775. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $12.34 billion, a P/E ratio of 9.17, a PEG ratio of 0.89 and a beta of 4.34. The business has a fifty day moving average of $14.12 and a two-hundred day moving average of $14.97. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28.

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

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be paid a $0.15 dividend. This is an increase from Permian Resources's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.91%. Permian Resources's dividend payout ratio (DPR) is currently 36.36%.

Analyst Upgrades and Downgrades

PR has been the subject of several analyst reports. Wells Fargo & Company decreased their price target on shares of Permian Resources from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Tuesday, October 1st. Citigroup decreased their price target on shares of Permian Resources from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, August 9th. UBS Group decreased their price objective on shares of Permian Resources from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. Benchmark decreased their price objective on shares of Permian Resources from $17.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Finally, Truist Financial increased their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $18.93.

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.