Permian Resources Corporation $PR Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its position in shares of Permian Resources Corporation (NYSE:PR) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,181,637 shares of the company’s stock after selling 49,144 shares during the quarter. Natixis Advisors LLC owned 0.14% of Permian Resources worth $16,578,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Permian Resources by 340.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock valued at $57,000 after purchasing an additional 3,224 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Permian Resources during the 4th quarter valued at $60,000. Farther Finance Advisors LLC increased its position in shares of Permian Resources by 126.1% during the 4th quarter. Farther Finance Advisors LLC now owns 4,442 shares of the company’s stock valued at $62,000 after purchasing an additional 2,477 shares during the period. Allworth Financial LP increased its position in shares of Permian Resources by 18.7% during the 3rd quarter. Allworth Financial LP now owns 6,445 shares of the company’s stock valued at $82,000 after purchasing an additional 1,015 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Permian Resources during the 4th quarter valued at $82,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Guy M. Oliphint sold 62,769 shares of Permian Resources stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the transaction, the executive vice president owned 542,503 shares in the company, valued at approximately $11,088,761.32. The trade was a 10.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Quinn sold 800,000 shares of Permian Resources stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $19.15, for a total value of $15,320,000.00. Following the transaction, the director owned 7,426,839 shares in the company, valued at $142,223,966.85. This represents a 9.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,438,198 shares of company stock worth $27,865,280. 5.00% of the stock is owned by corporate insiders.

Permian Resources Stock Performance

Shares of NYSE PR opened at $19.18 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $16.06 billion, a price-to-earnings ratio of 22.30 and a beta of 0.48. The stock’s fifty day simple moving average is $20.50 and its 200 day simple moving average is $17.54. Permian Resources Corporation has a 52-week low of $11.92 and a 52-week high of $22.67.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. As a group, sell-side analysts forecast that Permian Resources Corporation will post 2 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.3%. Permian Resources’s payout ratio is currently 74.42%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on Permian Resources from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. UBS Group lifted their price target on Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Weiss Ratings cut Permian Resources from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 12th. Benchmark cut Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Zacks Research cut Permian Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.69.

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.