Natixis Advisors LLC Has $15.73 Million Position in Permian Resources Co. (NYSE:PR)

Natixis Advisors LLC reduced its stake in shares of Permian Resources Co. (NYSE:PR) by 8.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,155,645 shares of the company’s stock after selling 111,254 shares during the quarter. Natixis Advisors LLC’s holdings in Permian Resources were worth $15,729,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PR. Simplicity Wealth LLC increased its holdings in shares of Permian Resources by 5.2% during the second quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock valued at $212,000 after acquiring an additional 646 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Permian Resources by 19.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after buying an additional 716 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in shares of Permian Resources by 3.1% in the first quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after acquiring an additional 781 shares during the period. Larson Financial Group LLC grew its holdings in Permian Resources by 0.5% during the 2nd quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock valued at $3,379,000 after buying an additional 949 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Permian Resources by 17.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,833 shares of the company’s stock valued at $110,000 after purchasing an additional 1,032 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Activity at Permian Resources

In related news, CAO Robert Regan Shannon sold 4,822 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 transaction of $67,170.46. Following the sale, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at $855,288.07. This trade represents a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Charles Bell sold 4,821 shares of the 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 sale, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The trade was a 5.88 % 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 corporate insiders.

Permian Resources Stock Down 0.2 %

NYSE PR opened at $15.13 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 52 week low of $12.34 and a 52 week high of $18.28. The stock’s 50-day moving average price is $14.12 and its 200-day moving average price is $14.97. The company has a market capitalization of $12.15 billion, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 0.89 and a beta of 4.34.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.21. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business’s revenue was up 60.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, equities research analysts predict that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be paid a dividend of $0.15 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, November 14th. Permian Resources’s dividend payout ratio (DPR) is currently 36.36%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Piper Sandler lifted their price target on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price objective on shares of Permian Resources in a research report on Monday, October 14th. Truist Financial boosted their target price on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Benchmark reduced their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.93.

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.