Permian Resources Co. (NASDAQ:PR) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Permian Resources Co. (NASDAQ:PR) by 110.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,089 shares of the company’s stock after buying an additional 60,474 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Permian Resources were worth $1,565,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PR. Strs Ohio grew its holdings in Permian Resources by 20.5% in the fourth quarter. Strs Ohio now owns 61,800 shares of the company’s stock valued at $840,000 after purchasing an additional 10,500 shares during the period. Phocas Financial Corp. purchased a new stake in Permian Resources in the fourth quarter valued at approximately $9,067,000. Louisiana State Employees Retirement System purchased a new stake in Permian Resources in the fourth quarter valued at approximately $1,587,000. WCM Investment Management LLC grew its holdings in Permian Resources by 7.7% in the fourth quarter. WCM Investment Management LLC now owns 1,378,970 shares of the company’s stock valued at $18,713,000 after purchasing an additional 98,915 shares during the period. Finally, Simplicity Solutions LLC purchased a new stake in Permian Resources in the fourth quarter valued at approximately $152,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Permian Resources from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a research note on Friday, April 12th. Wells Fargo & Company boosted their price objective on shares of Permian Resources from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. boosted their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Finally, Raymond James assumed coverage on shares of Permian Resources in a research note on Tuesday, April 9th. They set a “strong-buy” rating and a $24.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and an average target price of $19.31.

Permian Resources Trading Up 0.4 %

NASDAQ PR opened at $17.33 on Friday. The stock has a market cap of $13.38 billion, a P/E ratio of 13.08 and a beta of 4.35. The company’s fifty day simple moving average is $16.63 and its 200-day simple moving average is $14.67. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.42. Permian Resources Co. has a 52 week low of $8.94 and a 52 week high of $18.28.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. Equities research analysts predict that Permian Resources Co. will post 1.66 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 13th were issued a $0.05 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.20 annualized dividend and a yield of 1.15%. Permian Resources’s dividend payout ratio is presently 17.24%.

Insider Activity at Permian Resources

In other Permian Resources news, CEO William M. Hickey III sold 4,000,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $62,840,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Permian Resources news, CEO William M. Hickey III sold 4,000,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $62,840,000.00. The sale 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 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 sale, the chief accounting officer now directly 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 valued at $516,796,999 over the last ninety days. Corporate insiders own 23.14% of the company’s stock.

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.