Point72 Asset Management L.P. Has $74.81 Million Stock Holdings in Permian Resources Co. (NYSE:PR)

Point72 Asset Management L.P. lifted its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 58.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,496,765 shares of the company's stock after buying an additional 2,023,742 shares during the quarter. Point72 Asset Management L.P. owned about 0.68% of Permian Resources worth $74,811,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its position in Permian Resources by 28,542.9% during the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company's stock worth $27,000 after purchasing an additional 1,998 shares during the period. Innealta Capital LLC bought a new stake in shares of Permian Resources during the 2nd quarter worth approximately $30,000. UMB Bank n.a. increased its stake in Permian Resources by 99.2% in the third quarter. UMB Bank n.a. now owns 2,791 shares of the company's stock valued at $38,000 after acquiring an additional 1,390 shares during the last quarter. Gilliland Jeter Wealth Management LLC acquired a new position in Permian Resources during the second quarter valued at approximately $40,000. Finally, Blue Trust Inc. lifted its stake in Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company's stock worth $45,000 after purchasing an additional 2,629 shares during the last quarter. Institutional investors own 91.84% of the company's stock.

Analysts Set New Price Targets

PR has been the subject of several recent analyst reports. Truist Financial upped their price objective on Permian Resources from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Piper Sandler lifted their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Monday, November 18th. Susquehanna dropped 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 note on Wednesday, September 4th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $17.00 target price on shares of Permian Resources in a research note on Monday, October 14th. Finally, The Goldman Sachs Group started coverage on Permian Resources in a research note on Monday, September 30th. They issued a "buy" rating and a $19.00 price target for the company. 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.93.

Permian Resources Trading Up 0.8 %

Shares of Permian Resources stock traded up $0.12 during midday trading on Thursday, reaching $15.27. The company had a trading volume of 5,189,954 shares, compared to its average volume of 9,941,292. The firm has a market cap of $12.27 billion, a PE ratio of 9.18, a P/E/G ratio of 0.94 and a beta of 4.35. The stock has a fifty day moving average price of $14.53 and a 200 day moving average price of $14.88. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. 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 quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company earned $0.36 EPS. The company's revenue for the quarter was up 60.3% on a year-over-year basis. On average, equities analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were given a $0.15 dividend. The ex-dividend date was Thursday, November 14th. This is a positive change from Permian Resources's previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a dividend yield of 3.93%. 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.