Pacer Advisors Inc. Grows Holdings in Permian Resources Co. (NASDAQ:PR)

Pacer Advisors Inc. grew its holdings in Permian Resources Co. (NASDAQ:PRFree Report) by 143.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,627 shares of the company’s stock after purchasing an additional 33,349 shares during the period. Pacer Advisors Inc.’s holdings in Permian Resources were worth $770,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James & Associates increased its stake in Permian Resources by 26.1% in the fourth quarter. Raymond James & Associates now owns 634,123 shares of the company’s stock worth $8,624,000 after purchasing an additional 131,078 shares during the period. CoreCap Advisors LLC bought a new position in shares of Permian Resources during the 4th quarter worth $314,000. SG Americas Securities LLC bought a new position in shares of Permian Resources during the 4th quarter worth $167,000. Advisor Resource Council bought a new position in shares of Permian Resources during the 4th quarter worth $400,000. Finally, Register Financial Advisors LLC bought a new position in shares of Permian Resources during the 4th quarter worth $483,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling at Permian Resources

In other news, CEO William M. Hickey III sold 4,000,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total value of $62,840,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William J. Quinn sold 18,076,849 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $15.71, for a total value of $283,987,297.79. Following the completion of the transaction, the director now directly owns 71,056,620 shares in the company, valued at $1,116,299,500.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William M. Hickey III sold 4,000,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total value of $62,840,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,916,943 shares of company stock worth $516,796,999. 23.14% of the stock is owned by insiders.

Analyst Ratings Changes

PR has been the topic of a number of recent research reports. Stifel Nicolaus increased their price target on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company increased their price target on Permian Resources from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Benchmark increased their price target on Permian Resources from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Citigroup raised their price objective on Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Truist Financial raised their price objective on Permian Resources from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.18.

View Our Latest Research Report on Permian Resources

Permian Resources Trading Up 1.6 %

Permian Resources stock opened at $17.81 on Thursday. The stock has a 50-day moving average of $15.35 and a two-hundred day moving average of $14.21. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52. Permian Resources Co. has a one year low of $8.94 and a one year high of $17.91. The stock has a market cap of $13.75 billion, a PE ratio of 15.35 and a beta of 4.35.

Permian Resources (NASDAQ:PRGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. On average, research analysts anticipate that Permian Resources Co. will post 1.5 EPS for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Tuesday, March 12th. Permian Resources’s dividend payout ratio (DPR) is presently 17.24%.

About Permian Resources

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Permian Resources (NASDAQ:PR)

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