American Century Companies Inc. Sells 34,121 Shares of Permian Resources Corporation $PR

American Century Companies Inc. reduced its position in Permian Resources Corporation (NYSE:PR) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,009,153 shares of the company’s stock after selling 34,121 shares during the quarter. American Century Companies Inc. owned approximately 1.38% of Permian Resources worth $140,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its stake in Permian Resources by 114.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock valued at $25,000 after buying an additional 1,047 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Permian Resources by 154.4% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock worth $31,000 after purchasing an additional 1,391 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Permian Resources by 90.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after acquiring an additional 1,357 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Permian Resources by 340.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock valued at $57,000 after buying an additional 3,224 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Permian Resources by 162.4% in the 2nd quarter. Allworth Financial LP now owns 5,430 shares of the company’s stock valued at $74,000 after purchasing an additional 3,361 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Permian Resources Price Performance

PR stock opened at $18.28 on Monday. The company has a market capitalization of $15.16 billion, a PE ratio of 14.62 and a beta of 0.66. The company’s fifty day moving average price is $15.52 and its 200-day moving average price is $14.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.78 and a current ratio of 0.78. Permian Resources Corporation has a one year low of $10.01 and a one year high of $18.58.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.32 billion. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. On average, equities analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 3.5%. Permian Resources’s payout ratio is presently 48.00%.

Insider Buying and Selling

In related news, CEO William M. Hickey III sold 467,725 shares of the firm’s stock in a transaction that occurred 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Guy M. Oliphint sold 172,904 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $2,356,681.52. Following the sale, the executive vice president directly owned 616,683 shares of the company’s stock, valued at $8,405,389.29. This represents a 21.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,210,456 shares of company stock valued at $30,231,728 over the last 90 days. 12.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

PR has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on Permian Resources from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, January 27th. Morgan Stanley lowered their target price on Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Benchmark reiterated a “buy” rating on shares of Permian Resources in a report on Monday, February 2nd. Raymond James Financial restated a “strong-buy” rating and set a $21.00 price objective on shares of Permian Resources in a research note on Thursday. Finally, Bank of America restated a “neutral” rating and set a $16.00 target price (down from $17.00) on shares of Permian Resources in a research note on Friday, January 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and a consensus target price of $18.64.

About Permian Resources

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.