38,685 Shares in Permian Resources Co. (NYSE:PR) Bought by Banco Santander S.A.

Banco Santander S.A. purchased a new position in Permian Resources Co. (NYSE:PR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 38,685 shares of the company’s stock, valued at approximately $527,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Permian Resources by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock worth $247,042,000 after purchasing an additional 1,543,854 shares in the last quarter. King Luther Capital Management Corp increased its holdings in Permian Resources by 8.3% in the 3rd quarter. King Luther Capital Management Corp now owns 5,234,447 shares of the company’s stock valued at $71,241,000 after buying an additional 402,515 shares during the period. Ontario Teachers Pension Plan Board bought a new position in shares of Permian Resources during the 3rd quarter worth about $695,000. Advisors Asset Management Inc. boosted its position in shares of Permian Resources by 38.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 122,463 shares of the company’s stock valued at $1,667,000 after acquiring an additional 33,992 shares in the last quarter. Finally, SCP Investment LP raised its position in Permian Resources by 6.7% in the third quarter. SCP Investment LP now owns 28,600 shares of the company’s stock worth $389,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Up 1.4 %

PR opened at $16.21 on Friday. The firm has a 50 day simple moving average of $14.28 and a 200 day simple moving average of $14.95. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The company has a market cap of $13.02 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.96 and a beta of 4.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68.

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, 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 for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 60.3% on a year-over-year basis. On average, sell-side analysts anticipate that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were given a dividend of $0.15 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Thursday, November 14th. Permian Resources’s payout ratio is presently 36.36%.

Insider Activity

In other 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 completion of the transaction, the executive vice president now owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The trade was a 5.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of Permian Resources 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 in the company, valued at approximately $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 company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Mizuho dropped their price objective on Permian Resources from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company reduced their price target on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. 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. Piper Sandler increased their price target on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, UBS Group cut their price objective on Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Two equities research 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 company. Based on data from MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and an average price target 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.