Permian Resources Co. (NYSE:PR) Shares Bought by Swiss National Bank

Swiss National Bank lifted its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,010,748 shares of the company's stock after acquiring an additional 86,100 shares during the quarter. Swiss National Bank owned 0.13% of Permian Resources worth $13,756,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew 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 buying an additional 1,998 shares during the period. Innealta Capital LLC purchased a new stake in shares of Permian Resources during the 2nd quarter worth approximately $30,000. Transcendent Capital Group LLC acquired a new stake in shares of Permian Resources in the 1st quarter worth approximately $36,000. UMB Bank n.a. increased its stake in Permian Resources by 99.2% in the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company's stock valued at $38,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in Permian Resources during the second quarter worth $40,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PR has been the subject of several recent research reports. Citigroup cut their target price 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. Benchmark cut their price objective on Permian Resources from $17.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. Piper Sandler upped their target price on Permian Resources from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. Susquehanna dropped their price target on Permian Resources from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, September 4th. Finally, Truist Financial upped their price objective on 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 given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Permian Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.93.

Permian Resources Stock Up 1.4 %

Shares of Permian Resources stock traded up $0.22 during trading hours on Friday, hitting $16.21. 11,552,035 shares of the company's stock traded hands, compared to its average volume of 9,466,653. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The company has a market cap of $13.02 billion, a PE ratio of 9.82, a PEG ratio of 0.96 and a beta of 4.34. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $14.28 and a 200-day simple moving average of $14.97.

Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business's quarterly revenue was up 60.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. Equities research analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Permian Resources's previous quarterly dividend of $0.06. Permian Resources's dividend payout ratio (DPR) is currently 36.36%.

Insider Transactions at Permian Resources

In related 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 sale, the executive vice president now owns 77,237 shares in the company, valued at $1,075,911.41. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $855,288.07. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.80% of the company's stock.

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.