Natixis Advisors LLC Has $15.73 Million Stock Position in Permian Resources Co. (NYSE:PR)

Natixis Advisors LLC cut its position in shares of Permian Resources Co. (NYSE:PR) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,155,645 shares of the company’s stock after selling 111,254 shares during the period. Natixis Advisors LLC owned about 0.14% of Permian Resources worth $15,729,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Mizuho Markets Americas LLC increased its holdings in Permian Resources by 32.8% in the 3rd quarter. Mizuho Markets Americas LLC now owns 826,869 shares of the company’s stock valued at $11,254,000 after buying an additional 204,400 shares during the period. Empowered Funds LLC bought a new stake in Permian Resources in the third quarter valued at about $2,656,000. OneDigital Investment Advisors LLC acquired a new position in Permian Resources in the third quarter worth about $161,000. KBC Group NV boosted its holdings in Permian Resources by 34.7% during the third quarter. KBC Group NV now owns 15,597 shares of the company’s stock valued at $212,000 after purchasing an additional 4,015 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Permian Resources in the 3rd quarter valued at approximately $556,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Price Performance

PR opened at $15.13 on Wednesday. The company has a fifty day moving average price of $14.12 and a two-hundred day moving average price of $14.97. The firm has a market capitalization of $12.15 billion, a PE ratio of 9.17, a P/E/G ratio of 0.89 and a beta of 4.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a 52 week low of $12.34 and a 52 week high of $18.28.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business posted $0.36 EPS. Permian Resources’s revenue was up 60.3% on a year-over-year basis. As a group, analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th will be issued a $0.15 dividend. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 3.97%. Permian Resources’s payout ratio is 36.36%.

Insider Buying and Selling

In related news, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the sale, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the transaction, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. This trade represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Permian Resources in a research note on Monday, October 14th. Mizuho reduced their target price on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Piper Sandler increased their target price on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday. Susquehanna dropped their price objective on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, UBS Group cut their target price on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Permian Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.93.

Permian Resources Company 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.