MetLife Investment Management LLC Buys 55,980 Shares of Permian Resources Co. (NYSE:PR)

MetLife Investment Management LLC lifted its stake in Permian Resources Co. (NYSE:PR - Free Report) by 20.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 334,684 shares of the company's stock after purchasing an additional 55,980 shares during the period. MetLife Investment Management LLC's holdings in Permian Resources were worth $4,555,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System increased its position in Permian Resources by 11.2% during the 1st quarter. California State Teachers Retirement System now owns 435,627 shares of the company's stock valued at $7,693,000 after buying an additional 43,901 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Permian Resources by 1.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 125,100 shares of the company's stock worth $2,209,000 after buying an additional 2,200 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Permian Resources by 143.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 5,893 shares of the company's stock valued at $101,000 after buying an additional 3,468 shares during the period. GAMMA Investing LLC increased its stake in shares of Permian Resources by 19.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock worth $70,000 after purchasing an additional 716 shares in the last quarter. Finally, First Hawaiian Bank raised its stake in shares of Permian Resources by 54.1% in the second quarter. First Hawaiian Bank now owns 80,532 shares of the company's stock worth $1,301,000 after buying an additional 28,285 shares during the period. 91.84% of the stock is owned by institutional investors.

Permian Resources Trading Down 2.4 %

PR traded down $0.38 during trading on Monday, reaching $15.28. The company had a trading volume of 7,373,812 shares, compared to its average volume of 9,974,979. 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 52 week low of $12.34 and a 52 week high of $18.28. The stock has a market cap of $12.28 billion, a P/E ratio of 9.27, a PEG ratio of 0.94 and a beta of 4.34. The business has a 50 day simple moving average of $14.45 and a 200-day simple moving average of $14.89.

Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 60.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. On average, equities analysts anticipate that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were issued 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 yield of 3.93%. This is a boost from Permian Resources's previous quarterly dividend of $0.06. Permian Resources's payout ratio is presently 36.36%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PR. Benchmark lowered their target price on shares of Permian Resources from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, October 16th. 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 note on Monday, September 16th. Royal Bank of Canada reiterated an "outperform" rating and set a $17.00 price objective on shares of Permian Resources in a research report on Monday, October 14th. UBS Group dropped their target price 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. Finally, Truist Financial raised their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $18.93.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the 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 transaction, the executive vice president now directly owns 77,237 shares in the company, valued at $1,075,911.41. This represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the company'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 sale, the chief accounting officer now directly owns 61,399 shares of the company's stock, valued at $855,288.07. The trade was a 7.28 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by corporate insiders.

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.