Profund Advisors LLC Sells 13,291 Shares of Permian Resources Co. (NYSE:PR)

Profund Advisors LLC lowered its holdings in shares of Permian Resources Co. (NYSE:PR) by 47.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 14,896 shares of the company’s stock after selling 13,291 shares during the period. Profund Advisors LLC’s holdings in Permian Resources were worth $241,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. DRW Securities LLC bought a new position in shares of Permian Resources during the fourth quarter valued at $1,904,000. Franklin Resources Inc. raised its stake in shares of Permian Resources by 74.2% during the fourth quarter. Franklin Resources Inc. now owns 351,681 shares of the company’s stock valued at $4,783,000 after acquiring an additional 149,851 shares during the last quarter. American International Group Inc. raised its stake in shares of Permian Resources by 10.4% during the first quarter. American International Group Inc. now owns 830,432 shares of the company’s stock valued at $14,665,000 after acquiring an additional 78,146 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Permian Resources by 22.4% during the first quarter. Retirement Systems of Alabama now owns 577,336 shares of the company’s stock valued at $10,196,000 after acquiring an additional 105,565 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Permian Resources by 69.7% during the fourth quarter. Vanguard Group Inc. now owns 48,315,321 shares of the company’s stock valued at $657,088,000 after acquiring an additional 19,847,358 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Activity

In other news, CAO Robert Regan Shannon sold 4,822 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the transaction, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Robert Regan Shannon sold 4,822 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the transaction, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the transaction, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PR. Truist Financial raised their price target on shares of Permian Resources from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Wolfe Research assumed coverage on shares of Permian Resources in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Bank of America reissued a “buy” rating and set a $20.00 target price on shares of Permian Resources in a research note on Friday, June 14th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Permian Resources in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Permian Resources presently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Permian Resources Trading Up 3.4 %

NYSE:PR opened at $13.51 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.81 and a beta of 4.33. The firm has a fifty day simple moving average of $14.24 and a two-hundred day simple moving average of $15.76. Permian Resources Co. has a 12 month low of $12.34 and a 12 month high of $18.28.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The business’s quarterly revenue was up 99.9% on a year-over-year basis. During the same period last year, the company posted $0.27 earnings per share. Analysts expect that Permian Resources Co. will post 1.53 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Monday, August 19th. Permian Resources’s dividend payout ratio is currently 21.82%.

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.