Mirae Asset Global Investments Co. Ltd. Has $2.36 Million Holdings in Permian Resources Co. (NASDAQ:PR)

Mirae Asset Global Investments Co. Ltd. grew its stake in Permian Resources Co. (NASDAQ:PR) by 29.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,306 shares of the company’s stock after buying an additional 39,489 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Permian Resources were worth $2,357,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PR. Vanguard Group Inc. grew its stake in shares of Permian Resources by 17.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,467,963 shares of the company’s stock valued at $397,413,000 after purchasing an additional 4,148,519 shares during the period. BlackRock Inc. grew its stake 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 valued at $196,658,000 after purchasing an additional 1,708,290 shares during the period. Nuveen Asset Management LLC grew its stake 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 valued at $192,148,000 after purchasing an additional 1,592,275 shares during the period. State Street Corp bought a new stake in shares of Permian Resources in the 3rd quarter valued at approximately $100,979,000. Finally, Alliancebernstein L.P. grew its position in Permian Resources by 5.6% during the 2nd quarter. Alliancebernstein L.P. now owns 11,121,294 shares of the company’s stock worth $121,889,000 after acquiring an additional 586,827 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Transactions at Permian Resources

In other Permian Resources news, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of Permian Resources stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total transaction of $141,390,000.00. Following the transaction, the insider now directly owns 25,477,527 shares in the company, valued at $400,251,949.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Permian Resources news, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of Permian Resources stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total transaction of $141,390,000.00. Following the transaction, the insider now directly owns 25,477,527 shares in the company, valued at $400,251,949.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Brent P. Jensen sold 1,853 shares of Permian Resources stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $27,127.92. Following the transaction, the chief accounting officer now owns 1,047,610 shares in the company, valued at $15,337,010.40. The disclosure for this sale can be found here. Insiders have sold 32,916,943 shares of company stock worth $516,796,999 in the last three months. Insiders own 23.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Mizuho 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 Monday. Piper Sandler increased their price target on Permian Resources from $17.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Raymond James assumed coverage on Permian Resources in a research report on Tuesday, April 9th. They set a “strong-buy” rating and a $24.00 price target on the stock. Wells Fargo & Company increased their price target on Permian Resources from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Bank of America started coverage on Permian Resources in a research report on Friday, January 5th. They set a “neutral” rating and a $15.00 price target on the stock. Three research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Permian Resources Stock Down 2.0 %

NASDAQ:PR opened at $17.19 on Friday. Permian Resources Co. has a 12-month low of $8.94 and a 12-month high of $18.28. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $13.27 billion, a P/E ratio of 14.82 and a beta of 4.35. The stock’s fifty day simple moving average is $16.31 and its 200-day simple moving average is $14.52.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Equities research analysts expect that Permian Resources Co. will post 1.71 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were given a $0.05 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.20 annualized dividend and a dividend yield of 1.16%. Permian Resources’s dividend payout ratio is currently 17.24%.

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.