Permian Resources Co. (NYSE:PR) Shares Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC raised its holdings in Permian Resources Co. (NYSE:PR) by 18.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 761,721 shares of the company’s stock after acquiring an additional 118,200 shares during the quarter. Mutual of America Capital Management LLC owned 0.09% of Permian Resources worth $10,367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PR. American International Group Inc. boosted its holdings in Permian Resources by 10.4% during the first quarter. American International Group Inc. now owns 830,432 shares of the company’s stock worth $14,665,000 after buying an additional 78,146 shares in the last quarter. Castleark Management LLC grew its holdings in shares of Permian Resources by 370.0% in the 1st quarter. Castleark Management LLC now owns 96,160 shares of the company’s stock worth $1,698,000 after acquiring an additional 75,700 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Permian Resources by 11.2% during the first quarter. California State Teachers Retirement System now owns 435,627 shares of the company’s stock worth $7,693,000 after purchasing an additional 43,901 shares during the period. Janus Henderson Group PLC raised its position in shares of Permian Resources by 88.3% during the first quarter. Janus Henderson Group PLC now owns 330,382 shares of the company’s stock worth $5,833,000 after purchasing an additional 154,907 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Permian Resources by 47.2% during the first quarter. 1832 Asset Management L.P. now owns 1,322,381 shares of the company’s stock valued at $23,353,000 after purchasing an additional 423,824 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Analysts Set New Price Targets

PR has been the topic of a number of analyst reports. UBS Group dropped their price target on Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a report on Monday, October 14th. Susquehanna decreased their price objective on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. The Goldman Sachs Group started coverage on Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.87.

Permian Resources Stock Performance

Shares of PR stock opened at $14.80 on Monday. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The stock’s 50-day moving average is $14.03 and its two-hundred day moving average is $14.99. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $11.88 billion, a P/E ratio of 8.97, a PEG ratio of 0.89 and a beta of 4.34.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm’s revenue was up 60.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 earnings per share. Analysts predict 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 will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Thursday, November 14th. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s payout ratio is presently 36.36%.

Insider Buying and Selling

In related news, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,170.46. Following the transaction, the chief accounting officer now owns 61,399 shares in the company, valued at approximately $855,288.07. This trade represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by corporate insiders.

Permian Resources Profile

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.