Permian Resources Co. (NYSE:PR) Shares Bought by Ninepoint Partners LP

Ninepoint Partners LP raised its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 9.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 600,000 shares of the company's stock after purchasing an additional 50,000 shares during the quarter. Permian Resources comprises approximately 0.9% of Ninepoint Partners LP's portfolio, making the stock its 12th largest holding. Ninepoint Partners LP owned about 0.08% of Permian Resources worth $9,690,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PR. D.A. Davidson & CO. purchased a new position in Permian Resources in the 4th quarter valued at $136,000. Franklin Resources Inc. increased its stake in shares of Permian Resources by 74.2% during the fourth quarter. Franklin Resources Inc. now owns 351,681 shares of the company's stock worth $4,783,000 after acquiring an additional 149,851 shares during the period. Orion Portfolio Solutions LLC raised its holdings in Permian Resources by 113.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 134,246 shares of the company's stock worth $1,802,000 after purchasing an additional 71,430 shares in the last quarter. Parallel Advisors LLC lifted its position in Permian Resources by 117.0% in the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company's stock valued at $30,000 after purchasing an additional 1,178 shares during the period. Finally, United Services Automobile Association boosted its holdings in Permian Resources by 61.0% in the 4th quarter. United Services Automobile Association now owns 26,141 shares of the company's stock valued at $356,000 after purchasing an additional 9,905 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Permian Resources

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

Permian Resources Stock Up 3.4 %

Permian Resources stock traded up $0.45 during midday trading on Friday, hitting $13.51. 11,694,225 shares of the company were exchanged, compared to its average volume of 10,084,867. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The company's fifty day moving average price is $14.24 and its 200-day moving average price is $15.76. The company has a market cap of $10.84 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.81 and a beta of 4.33.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The firm's revenue was up 99.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. On average, research analysts predict that Permian Resources Co. will post 1.53 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.78%. Permian Resources's dividend payout ratio is presently 21.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PR shares. JPMorgan Chase & Co. cut their price target on shares of Permian Resources from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, September 12th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $20.00 price target on shares of Permian Resources in a report on Monday, August 12th. Benchmark reiterated a "buy" rating and issued a $17.00 price target on shares of Permian Resources in a research report on Wednesday, August 7th. Piper Sandler reduced their target price on Permian Resources from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Thursday, August 15th. Finally, Wolfe Research began coverage on Permian Resources in a report on Thursday, July 18th. They set a "peer perform" rating on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $19.50.

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.