Bleakley Financial Group LLC Makes New $152,000 Investment in Permian Resources Co. (NASDAQ:PR)

Bleakley Financial Group LLC purchased a new position in shares of Permian Resources Co. (NASDAQ:PR) during the fourth quarter, Holdings Channel.com reports. The firm purchased 11,179 shares of the company’s stock, valued at approximately $152,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Permian Resources by 17.1% during the 3rd quarter. Vanguard Group Inc. now owns 28,467,963 shares of the company’s stock worth $397,413,000 after buying an additional 4,148,519 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Permian Resources by 10.5% in the 2nd quarter. BlackRock Inc. now owns 17,943,203 shares of the company’s stock worth $196,658,000 after purchasing an additional 1,708,290 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Permian Resources by 10.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 17,531,746 shares of the company’s stock worth $192,148,000 after purchasing an additional 1,592,275 shares in the last quarter. State Street Corp bought a new position in shares of Permian Resources in the 3rd quarter worth $100,979,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of Permian Resources by 5.6% in the 2nd quarter. Alliancebernstein L.P. now owns 11,121,294 shares of the company’s stock worth $121,889,000 after purchasing an additional 586,827 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Brent P. Jensen sold 203,687 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the completion of the transaction, the chief accounting officer now owns 1,062,345 shares in the company, valued at approximately $15,457,119.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Brent P. Jensen sold 203,687 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the completion of the transaction, the chief accounting officer now owns 1,062,345 shares in the company, valued at approximately $15,457,119.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brent P. Jensen sold 84,554 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $14.96, for a total value of $1,264,927.84. Following the transaction, the chief accounting officer now owns 932,325 shares of the company’s stock, valued at approximately $13,947,582. The disclosure for this sale can be found here. Insiders sold a total of 32,916,943 shares of company stock valued at $516,796,999 in the last ninety days. 23.14% of the stock is currently owned by insiders.

Permian Resources Trading Down 0.5 %

Shares of Permian Resources stock opened at $17.60 on Wednesday. Permian Resources Co. has a 1 year low of $8.94 and a 1 year high of $18.28. The firm has a market cap of $13.58 billion, a PE ratio of 15.17 and a beta of 4.35. The stock has a fifty day moving average price of $16.15 and a 200-day moving average price of $14.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.52 and a quick ratio of 0.52.

Permian Resources (NASDAQ:PR) last announced its earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Equities research analysts anticipate that Permian Resources Co. will post 1.69 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Tuesday, March 12th. Permian Resources’s dividend payout ratio is presently 17.24%.

Analyst Upgrades and Downgrades

PR has been the topic of a number of recent research reports. Susquehanna increased their target price on Permian Resources from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Piper Sandler increased their target price on Permian Resources from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Stifel Nicolaus increased their target price on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Benchmark increased their target price on Permian Resources from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Wells Fargo & Company increased their price target on Permian Resources from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.77.

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.