Swiss National Bank Has $13.76 Million Holdings in Permian Resources Co. (NYSE:PR)

Swiss National Bank increased its stake in Permian Resources Co. (NYSE:PR) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,010,748 shares of the company’s stock after buying an additional 86,100 shares during the quarter. Swiss National Bank owned approximately 0.13% of Permian Resources worth $13,756,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PR. EntryPoint Capital LLC acquired a new stake in shares of Permian Resources in the 1st quarter valued at approximately $71,000. Advisors Asset Management Inc. boosted its holdings in shares of Permian Resources by 101.2% in the 1st quarter. Advisors Asset Management Inc. now owns 39,576 shares of the company’s stock valued at $699,000 after buying an additional 19,909 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Permian Resources by 11.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 100,000 shares of the company’s stock valued at $1,766,000 after buying an additional 10,000 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Permian Resources by 47.2% in the 1st quarter. 1832 Asset Management L.P. now owns 1,322,381 shares of the company’s stock valued at $23,353,000 after buying an additional 423,824 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in Permian Resources by 21.8% in the 1st quarter. Lazard Asset Management LLC now owns 18,322 shares of the company’s stock valued at $323,000 after acquiring an additional 3,279 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Activity at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of the firm’s 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 sale, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $67,170.46. Following the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PR has been the topic of a number of research analyst reports. Citigroup dropped their price target on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Sandler increased their price target on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Mizuho dropped their price target on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company dropped their price target on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their price target on Permian Resources from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.93.

Permian Resources Stock Up 1.4 %

Shares of NYSE PR opened at $16.21 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a 52 week low of $12.34 and a 52 week high of $18.28. The stock has a market capitalization of $13.02 billion, a P/E ratio of 9.82, a PEG ratio of 0.91 and a beta of 4.34. The stock’s fifty day moving average is $14.28 and its 200 day moving average is $14.97.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business earned $0.36 earnings per share. Permian Resources’s revenue was up 60.3% on a year-over-year basis. Sell-side analysts forecast that Permian Resources Co. will post 1.47 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a $0.15 dividend. The ex-dividend date was Thursday, November 14th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 3.70%. Permian Resources’s dividend payout ratio (DPR) is 36.36%.

About Permian Resources

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.