BI Asset Management Fondsmaeglerselskab A S Has $708,000 Holdings in Permian Resources Corporation $PR

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Permian Resources Corporation (NYSE:PR) by 84.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 50,485 shares of the company’s stock after selling 276,879 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Permian Resources were worth $708,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PR. Bank of New York Mellon Corp boosted its holdings in shares of Permian Resources by 115.5% in the fourth quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after buying an additional 13,483,136 shares during the period. Boston Partners boosted its holdings in shares of Permian Resources by 76.2% in the third quarter. Boston Partners now owns 17,350,663 shares of the company’s stock valued at $222,099,000 after buying an additional 7,503,654 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Permian Resources by 10.4% in the third quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock valued at $914,733,000 after buying an additional 6,705,644 shares during the period. Millennium Management LLC boosted its holdings in shares of Permian Resources by 210.6% in the third quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock valued at $126,081,000 after buying an additional 6,678,814 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Permian Resources by 20.9% in the third quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company’s stock valued at $346,919,000 after buying an additional 4,691,280 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Activity

In other news, Director William J. Quinn sold 512,429 shares of Permian Resources stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $19.59, for a total value of $10,038,484.11. Following the completion of the transaction, the director owned 6,914,410 shares of the company’s stock, valued at $135,453,291.90. This trade represents a 6.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aron Marquez sold 7,750 shares of Permian Resources stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $19.62, for a total transaction of $152,055.00. Following the completion of the transaction, the director directly owned 72,218 shares of the company’s stock, valued at approximately $1,416,917.16. This trade represents a 9.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 588,198 shares of company stock valued at $11,576,280 in the last quarter. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PR. Benchmark cut shares of Permian Resources from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. UBS Group boosted their price objective on shares of Permian Resources from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Mizuho increased their target price on shares of Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Piper Sandler increased their target price on shares of Permian Resources from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Finally, Wells Fargo & Company set a $26.00 target price on shares of Permian Resources in a report on Monday, May 25th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.69.

Permian Resources Stock Performance

Shares of PR opened at $19.79 on Thursday. The stock has a market capitalization of $16.57 billion, a price-to-earnings ratio of 23.02 and a beta of 0.48. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $20.38 and a 200 day simple moving average of $17.69. Permian Resources Corporation has a 12 month low of $11.92 and a 12 month high of $22.67.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the firm posted $0.44 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. Research analysts forecast that Permian Resources Corporation will post 2.01 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is 74.42%.

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.