Permian Resources Co. (NASDAQ:PR) Shares Acquired by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board boosted its stake in Permian Resources Co. (NASDAQ:PR) by 12.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,500 shares of the company’s stock after acquiring an additional 11,000 shares during the period. New Mexico Educational Retirement Board’s holdings in Permian Resources were worth $1,575,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in shares of Permian Resources in the 1st quarter valued at about $25,000. YHB Investment Advisors Inc. acquired a new position in Permian Resources during the first quarter worth about $26,000. Rise Advisors LLC purchased a new position in Permian Resources in the first quarter valued at about $32,000. Innealta Capital LLC acquired a new stake in shares of Permian Resources during the 2nd quarter valued at approximately $30,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Permian Resources during the 1st quarter worth approximately $36,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PR. Citigroup lowered their target price on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. BMO Capital Markets raised shares of Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Wednesday, July 3rd. Piper Sandler reduced their price target on shares of Permian Resources from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Wolfe Research assumed coverage on shares of Permian Resources in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Susquehanna cut their price objective on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.93.

Permian Resources Stock Performance

NASDAQ PR opened at $13.25 on Friday. The business’s 50-day moving average price is $15.08 and its 200 day moving average price is $15.97. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The company has a market capitalization of $10.63 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 0.73 and a beta of 4.33.

Permian Resources (NASDAQ:PR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $0.27 EPS. The company’s revenue was up 99.9% on a year-over-year basis. On average, research analysts predict that Permian Resources Co. will post 1.63 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Insiders Place Their Bets

In other news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The transaction was disclosed in a document filed 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 on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the sale, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at $855,288.07. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.

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.