2,425 Shares in Permian Resources Co. (NASDAQ:PR) Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale bought a new position in Permian Resources Co. (NASDAQ:PR) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,425 shares of the company’s stock, valued at approximately $33,000.

Other hedge funds have also bought and sold shares of the company. Quarry LP purchased a new stake in Permian Resources in the 1st quarter worth $33,000. Clearstead Advisors LLC purchased a new stake in Permian Resources in the 3rd quarter worth $45,000. Optimum Investment Advisors purchased a new stake in Permian Resources in the 4th quarter worth $50,000. Sandia Investment Management LP purchased a new stake in shares of Permian Resources during the 1st quarter valued at about $52,000. Finally, Fifth Third Bancorp raised its position in shares of Permian Resources by 1,290.7% during the 4th quarter. Fifth Third Bancorp now owns 4,172 shares of the company’s stock valued at $57,000 after buying an additional 3,872 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PR. Raymond James began coverage on shares of Permian Resources in a research report on Tuesday, April 9th. They set a “strong-buy” rating and a $24.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Piper Sandler upped their target price on shares of Permian Resources from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, Truist Financial decreased their target price on shares of Permian Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Insiders Place Their Bets

In other news, CAO Brent P. Jensen sold 203,687 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the transaction, the chief accounting officer now directly owns 1,062,345 shares in the company, valued at $15,457,119.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director William J. Quinn sold 18,076,849 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $15.71, for a total transaction of $283,987,297.79. Following the transaction, the director now directly owns 71,056,620 shares in the company, valued at $1,116,299,500.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Brent P. Jensen sold 203,687 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the transaction, the chief accounting officer now owns 1,062,345 shares in the company, valued at $15,457,119.75. The disclosure for this sale can be found here. Insiders have sold 32,916,943 shares of company stock worth $516,796,999 in the last three months. Corporate insiders own 23.14% of the company’s stock.

Permian Resources Price Performance

Shares of PR stock opened at $17.53 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $13.53 billion, a P/E ratio of 15.11 and a beta of 4.35. The company’s 50-day simple moving average is $16.24 and its two-hundred day simple moving average is $14.51. Permian Resources Co. has a one year low of $8.94 and a one year high of $18.28.

Permian Resources (NASDAQ:PR) last issued its earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. As a group, equities analysts anticipate that Permian Resources Co. will post 1.69 EPS for the current year.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were paid a $0.05 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.20 dividend on an annualized basis and a yield of 1.14%. Permian Resources’s dividend payout ratio is currently 17.24%.

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.