Natixis Advisors L.P. Has $9.63 Million Stock Position in Permian Resources Co. (NASDAQ:PR)

Natixis Advisors L.P. increased its position in shares of Permian Resources Co. (NASDAQ:PR) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 707,915 shares of the company’s stock after purchasing an additional 58,637 shares during the quarter. Natixis Advisors L.P. owned approximately 0.09% of Permian Resources worth $9,626,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in Permian Resources by 317.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 24,186 shares of the company’s stock valued at $338,000 after acquiring an additional 18,398 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Permian Resources by 110.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,089 shares of the company’s stock valued at $1,565,000 after acquiring an additional 60,474 shares in the last quarter. Comerica Bank increased its position in Permian Resources by 110,645.5% in the 3rd quarter. Comerica Bank now owns 946,874 shares of the company’s stock valued at $13,218,000 after acquiring an additional 946,019 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Permian Resources by 7.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 3,131,126 shares of the company’s stock valued at $42,584,000 after acquiring an additional 210,870 shares in the last quarter. Finally, Raymond James & Associates increased its position in Permian Resources by 26.1% in the 4th quarter. Raymond James & Associates now owns 634,123 shares of the company’s stock valued at $8,624,000 after acquiring an additional 131,078 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PR. Truist Financial raised their target price on shares of Permian Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Wells Fargo & Company raised their target price on shares of Permian Resources from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Citigroup raised their target price on shares of Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Mizuho raised their target price on shares of Permian Resources from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Raymond James began coverage on shares of Permian Resources in a research note on Tuesday, April 9th. They issued a “strong-buy” rating and a $24.00 target price on the stock. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.38.

Insider Activity

In other news, Director William J. Quinn sold 18,076,849 shares of Permian Resources stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $15.71, for a total value of $283,987,297.79. Following the sale, the director now directly owns 71,056,620 shares in the company, valued at $1,116,299,500.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William J. Quinn sold 18,076,849 shares of Permian Resources stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $15.71, for a total value of $283,987,297.79. Following the sale, the director now directly owns 71,056,620 shares in the company, valued at $1,116,299,500.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William M. Hickey III sold 4,000,000 shares of Permian Resources stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $62,840,000.00. The disclosure for this sale can be found here. Insiders have sold 32,916,943 shares of company stock worth $516,796,999 over the last ninety days. Insiders own 12.80% of the company’s stock.

Permian Resources Stock Performance

Shares of PR stock opened at $17.26 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $13.32 billion, a P/E ratio of 14.88 and a beta of 4.32. The company’s 50 day moving average price is $16.99 and its two-hundred day moving average price is $14.80. Permian Resources Co. has a 52 week low of $8.94 and a 52 week high of $18.28.

Permian Resources (NASDAQ:PR) last announced its earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. On average, analysts expect that Permian Resources Co. will post 1.66 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Tuesday, May 21st will be issued a $0.06 dividend. The ex-dividend date is Monday, May 20th. This is an increase from Permian Resources’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.39%. Permian Resources’s dividend payout ratio (DPR) is 17.24%.

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.