Nisa Investment Advisors LLC Cuts Position in Permian Resources Co. (NYSE:PR)

Nisa Investment Advisors LLC lowered its position in Permian Resources Co. (NYSE:PR) by 87.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,079 shares of the company’s stock after selling 15,100 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Permian Resources were worth $30,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its position in shares of Permian Resources by 28,542.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock worth $27,000 after acquiring an additional 1,998 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Permian Resources in the fourth quarter valued at approximately $31,000. UMB Bank n.a. raised its holdings in Permian Resources by 99.2% during the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after purchasing an additional 1,390 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after buying an additional 800 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Permian Resources by 399.5% in the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after buying an additional 2,629 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the sale, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This represents a 6.11 % 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. Insiders own 12.80% of the company’s stock.

Permian Resources Trading Down 2.8 %

Shares of PR stock opened at $14.62 on Friday. Permian Resources Co. has a 1-year low of $12.59 and a 1-year high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The business’s fifty day moving average price is $14.91 and its 200 day moving average price is $14.58. The firm has a market capitalization of $11.75 billion, a PE ratio of 8.86, a P/E/G ratio of 4.23 and a beta of 4.32.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business’s revenue was up 60.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS. As a group, sell-side analysts forecast that Permian Resources Co. will post 1.45 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were paid a dividend of $0.15 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.10%. Permian Resources’s payout ratio is 36.36%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Benchmark dropped their price objective on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Piper Sandler raised their price target on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a research note on Monday, October 14th. Morgan Stanley started coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 target price on the stock. Finally, Truist Financial upped their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.13.

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.