Permian Resources Co. (NASDAQ:PR) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Permian Resources Co. (NASDAQ:PR) by 29.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 173,306 shares of the company’s stock after acquiring an additional 39,489 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Permian Resources were worth $2,357,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Permian Resources by 17.1% in the third quarter. Vanguard Group Inc. now owns 28,467,963 shares of the company’s stock valued at $397,413,000 after purchasing an additional 4,148,519 shares during the last quarter. BlackRock Inc. grew its holdings in Permian Resources by 10.5% in the second quarter. BlackRock Inc. now owns 17,943,203 shares of the company’s stock valued at $196,658,000 after purchasing an additional 1,708,290 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Permian Resources by 10.0% in the second quarter. Nuveen Asset Management LLC now owns 17,531,746 shares of the company’s stock valued at $192,148,000 after purchasing an additional 1,592,275 shares during the last quarter. State Street Corp acquired a new stake in shares of Permian Resources during the third quarter valued at $100,979,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Permian Resources by 5.6% during the second quarter. Alliancebernstein L.P. now owns 11,121,294 shares of the company’s stock valued at $121,889,000 after acquiring an additional 586,827 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PR. Raymond James began coverage on Permian Resources in a research note on Tuesday, April 9th. They set a “strong-buy” rating and a $24.00 price objective on the stock. Bank of America began coverage on Permian Resources in a research note on Friday, January 5th. They set a “neutral” rating and a $15.00 price objective on the stock. Citigroup increased their price objective on Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Wells Fargo & Company increased their price objective on Permian Resources from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Truist Financial decreased their price objective on Permian Resources from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Insider Activity at Permian Resources

In other Permian Resources news, CAO Brent P. Jensen sold 203,687 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the completion of the sale, the chief accounting officer now owns 1,062,345 shares in the company, valued at approximately $15,457,119.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Brent P. Jensen sold 1,853 shares of Permian Resources stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $27,127.92. Following the completion of the transaction, the chief accounting officer now owns 1,047,610 shares in the company, valued at approximately $15,337,010.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Brent P. Jensen sold 203,687 shares of Permian Resources stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total value of $2,963,645.85. Following the completion of the transaction, the chief accounting officer now owns 1,062,345 shares of the company’s stock, valued at approximately $15,457,119.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,916,943 shares of company stock worth $516,796,999. 23.14% of the stock is currently owned by company insiders.

Permian Resources Stock Performance

Permian Resources stock opened at $17.19 on Friday. The stock’s 50-day moving average is $16.31 and its 200-day moving average is $14.52. The company has a market cap of $13.27 billion, a price-to-earnings ratio of 14.82 and a beta of 4.35. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.52 and a quick ratio of 0.52. Permian Resources Co. has a 12 month low of $8.94 and a 12 month high of $18.28.

Permian Resources (NASDAQ:PR) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. Equities analysts anticipate that Permian Resources Co. will post 1.71 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.20 annualized dividend and a dividend yield of 1.16%. Permian Resources’s payout ratio is currently 17.24%.

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.