Transamerica Financial Advisors Inc. Makes New Investment in Permian Resources Co. (NYSE:PR)

Transamerica Financial Advisors Inc. bought a new position in shares of Permian Resources Co. (NYSE:PR) during the third quarter, HoldingsChannel.com reports. The firm bought 4,720 shares of the company’s stock, valued at approximately $65,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in Permian Resources by 11.2% during the first quarter. California State Teachers Retirement System now owns 435,627 shares of the company’s stock worth $7,693,000 after buying an additional 43,901 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Permian Resources by 88.3% during the 1st quarter. Janus Henderson Group PLC now owns 330,382 shares of the company’s stock valued at $5,833,000 after purchasing an additional 154,907 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in shares of Permian Resources by 8,360.8% during the 3rd quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock valued at $699,000 after purchasing an additional 50,750 shares in the last quarter. South Street Advisors LLC bought a new position in shares of Permian Resources during the 3rd quarter valued at about $7,142,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Permian Resources during the 3rd quarter valued at about $556,000. Institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PR. The Goldman Sachs Group began coverage on Permian Resources in a report on Monday, September 30th. They set a “buy” rating and a $19.00 price objective on the stock. Susquehanna cut their price objective on Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Benchmark cut 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 lifted their price objective on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, UBS Group dropped their target price on Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.93.

Insider Transactions at Permian Resources

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

Permian Resources Stock Down 0.4 %

NYSE:PR opened at $15.57 on Thursday. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 0.94 and a beta of 4.34. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The stock’s 50 day moving average price is $14.35 and its two-hundred day moving average price is $14.92. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40.

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

Permian Resources Increases Dividend

The firm also recently announced 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 an increase from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources’s payout ratio is currently 36.36%.

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.