Worldquant Millennium Advisors LLC Makes New Investment in Permian Resources Co. (NYSE:PR)

Worldquant Millennium Advisors LLC bought a new position in shares of Permian Resources Co. (NYSE:PR - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 190,258 shares of the company's stock, valued at approximately $2,589,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Simplicity Wealth LLC grew its holdings in shares of Permian Resources by 5.2% in the 2nd quarter. Simplicity Wealth LLC now owns 13,150 shares of the company's stock valued at $212,000 after acquiring an additional 646 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Permian Resources by 320.2% in the 2nd quarter. SG Americas Securities LLC now owns 281,218 shares of the company's stock valued at $4,542,000 after acquiring an additional 214,295 shares in the last quarter. Securian Asset Management Inc. grew its holdings in shares of Permian Resources by 8.0% in the 2nd quarter. Securian Asset Management Inc. now owns 40,964 shares of the company's stock valued at $662,000 after acquiring an additional 3,048 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Permian Resources by 2.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 155,874 shares of the company's stock valued at $2,517,000 after acquiring an additional 4,459 shares in the last quarter. Finally, ORG Partners LLC lifted its stake in Permian Resources by 2,972.3% in the 2nd quarter. ORG Partners LLC now owns 9,432 shares of the company's stock valued at $152,000 after purchasing an additional 9,125 shares during the last quarter. Institutional investors own 91.84% of the company's stock.

Analyst Ratings Changes

PR has been the subject of several recent analyst reports. Susquehanna cut their target price 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. Mizuho cut their target price on shares of 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 issued a $17.00 target price on shares of Permian Resources in a research note on Monday, October 14th. UBS Group cut 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. Finally, Piper Sandler raised their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. Two investment 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. According to data from MarketBeat.com, Permian Resources has an average rating of "Moderate Buy" and an average target price of $18.93.

Permian Resources Price Performance

NYSE:PR traded up $0.12 during mid-day trading on Monday, reaching $14.79. The stock had a trading volume of 7,008,301 shares, compared to its average volume of 9,934,510. The stock has a 50-day simple moving average of $14.60 and a two-hundred day simple moving average of $14.86. The stock has a market capitalization of $11.88 billion, a PE ratio of 8.89, a P/E/G ratio of 0.88 and a beta of 4.35. 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 12 month low of $12.47 and a 12 month high of $18.28.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.21. The business had revenue of $1.22 billion for 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 quarterly revenue was up 60.3% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. 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 business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Permian Resources's previous quarterly dividend of $0.06. Permian Resources's payout ratio is presently 36.36%.

Permian Resources Company 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.