Universal Beteiligungs und Servicegesellschaft mbH Boosts Stake in Permian Resources Corporation $PR

Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Permian Resources Corporation (NYSE:PR) by 101.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 540,618 shares of the company’s stock after buying an additional 271,668 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.07% of Permian Resources worth $6,920,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in Permian Resources by 86.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 23,963,307 shares of the company’s stock valued at $326,380,000 after acquiring an additional 11,133,354 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Permian Resources by 8.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,453,672 shares of the company’s stock worth $236,207,000 after acquiring an additional 1,421,059 shares during the period. American Century Companies Inc. raised its holdings in shares of Permian Resources by 20.3% during the second quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock valued at $150,409,000 after purchasing an additional 1,863,632 shares during the last quarter. Boston Partners bought a new position in Permian Resources during the second quarter valued at approximately $134,119,000. Finally, Raymond James Financial Inc. lifted its position in Permian Resources by 1.0% during the second quarter. Raymond James Financial Inc. now owns 7,732,423 shares of the company’s stock valued at $105,316,000 after purchasing an additional 75,832 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CEO James H. Walter sold 467,700 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total value of $6,374,751.00. Following the completion of the transaction, the chief executive officer directly owned 1,010,138 shares in the company, valued at $13,768,180.94. This represents a 31.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William M. Hickey III sold 467,725 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total transaction of $6,375,091.75. Following the completion of the sale, the chief executive officer directly owned 1,010,136 shares of the company’s stock, valued at approximately $13,768,153.68. This trade represents a 31.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,210,456 shares of company stock valued at $30,231,728. 12.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PR. Morgan Stanley cut their target price on shares of Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday. The Goldman Sachs Group lifted their price objective on Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Permian Resources in a research report on Monday, December 29th. Zacks Research downgraded Permian Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Piper Sandler cut their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.79.

Permian Resources Trading Up 1.1%

NYSE:PR opened at $14.78 on Monday. Permian Resources Corporation has a one year low of $10.01 and a one year high of $15.69. The business has a fifty day moving average price of $14.24 and a 200-day moving average price of $13.64. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 13.56 and a beta of 0.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.67 and a quick ratio of 0.67.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.22). Permian Resources had a net margin of 15.65% and a return on equity of 11.03%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts forecast that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, December 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.1%. Permian Resources’s dividend payout ratio (DPR) is presently 55.05%.

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.