OneDigital Investment Advisors LLC Buys Shares of 11,844 Permian Resources Co. (NYSE:PR)

OneDigital Investment Advisors LLC bought a new position in Permian Resources Co. (NYSE:PR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,844 shares of the company’s stock, valued at approximately $161,000.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Permian Resources by 480.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,054,560 shares of the company’s stock valued at $106,924,000 after purchasing an additional 5,012,287 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Permian Resources by 59.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company’s stock valued at $194,585,000 after acquiring an additional 4,497,184 shares during the period. Merewether Investment Management LP increased its holdings in Permian Resources by 148.1% in the 2nd quarter. Merewether Investment Management LP now owns 5,900,449 shares of the company’s stock worth $95,292,000 after acquiring an additional 3,522,300 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Permian Resources by 16,359.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,473,023 shares of the company’s stock worth $56,089,000 after acquiring an additional 3,451,923 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Permian Resources by 20.6% during the second quarter. Renaissance Technologies LLC now owns 9,108,803 shares of the company’s stock valued at $147,107,000 after purchasing an additional 1,555,884 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Trading Up 1.4 %

Shares of PR opened at $16.21 on Friday. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $14.28 and its 200-day simple moving average is $14.95. The company has a market cap of $13.02 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.96 and a beta of 4.34.

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

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a yield of 3.70%. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s payout ratio is presently 36.36%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a research note on Monday, October 14th. Piper Sandler lifted their target price on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Citigroup dropped their price target on Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, The Goldman Sachs Group assumed coverage on shares of Permian Resources in a research note on Monday, September 30th. They set a “buy” rating and a $19.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.93.

Insider Buying and Selling at Permian Resources

In related news, EVP John Charles Bell sold 4,821 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now owns 77,237 shares in the company, valued at approximately $1,075,911.41. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the transaction, the chief accounting officer now directly owns 61,399 shares in the company, 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 corporate insiders.

About Permian Resources

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.