Permian Resources Co. (NYSE:PR) Shares Purchased by First Eagle Investment Management LLC

First Eagle Investment Management LLC boosted its holdings in Permian Resources Co. (NYSE:PR) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 777,675 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.10% of Permian Resources worth $11,183,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Principal Securities Inc. lifted its stake in Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after buying an additional 852 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in Permian Resources in the fourth quarter valued at $31,000. Global Retirement Partners LLC lifted its stake in Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after buying an additional 1,232 shares during the last quarter. Rakuten Securities Inc. lifted its stake in Permian Resources by 1,152.5% in the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after buying an additional 2,305 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in Permian Resources by 294.8% in the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after buying an additional 2,155 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PR shares. Williams Trading set a $19.00 target price on Permian Resources in a research note on Wednesday, March 5th. Truist Financial lifted their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Citigroup cut shares of Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Susquehanna upgraded shares of Permian Resources from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $17.00 to $20.00 in a research note on Wednesday, March 5th. Finally, Piper Sandler cut their price objective on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Permian Resources has an average rating of “Moderate Buy” and a consensus price target of $19.35.

Insiders Place Their Bets

In related news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J. Quinn acquired 500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the purchase, the director now directly owns 812,429 shares in the company, valued at approximately $10,618,447.03. This trade represents a 160.04 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 18,446 shares of company stock worth $269,731. Company insiders own 12.80% of the company’s stock.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $13.63 on Friday. 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 50-day moving average price is $14.42 and its two-hundred day moving average price is $14.34. Permian Resources Co. has a 52 week low of $11.84 and a 52 week high of $18.28. The stock has a market cap of $10.95 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.40%. Permian Resources’s payout ratio is presently 41.96%.

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.