Permian Resources Co. (NASDAQ:PR) Shares Acquired by Leeward Investments LLC MA

Leeward Investments LLC MA increased its holdings in shares of Permian Resources Co. (NASDAQ:PR) by 5.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,307,492 shares of the company’s stock after purchasing an additional 120,007 shares during the period. Permian Resources makes up approximately 1.5% of Leeward Investments LLC MA’s holdings, making the stock its 5th largest position. Leeward Investments LLC MA owned 0.30% of Permian Resources worth $31,382,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Permian Resources by 17.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,467,963 shares of the company’s stock valued at $397,413,000 after acquiring an additional 4,148,519 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Permian Resources by 14.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,694,799 shares of the company’s stock valued at $93,459,000 after acquiring an additional 870,496 shares in the last quarter. Jennison Associates LLC acquired a new position in Permian Resources in the 3rd quarter valued at approximately $76,629,000. Westfield Capital Management Co. LP acquired a new position in Permian Resources in the 3rd quarter valued at approximately $54,744,000. Finally, Northern Trust Corp raised its holdings in Permian Resources by 35.6% in the 3rd quarter. Northern Trust Corp now owns 3,672,866 shares of the company’s stock valued at $51,273,000 after acquiring an additional 964,362 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Up 0.2 %

NASDAQ:PR opened at $17.37 on Friday. The stock’s fifty day moving average price is $16.69 and its two-hundred day moving average price is $14.69. Permian Resources Co. has a 52-week low of $8.94 and a 52-week high of $18.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market cap of $13.41 billion, a price-to-earnings ratio of 14.97 and a beta of 4.35.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. On average, analysts anticipate that Permian Resources Co. will post 1.66 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.15%. The ex-dividend date was Tuesday, March 12th. Permian Resources’s dividend payout ratio is 17.24%.

Analyst Ratings Changes

PR has been the topic of several analyst reports. 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 Friday, April 12th. Benchmark reiterated a “buy” rating and issued a $17.00 price objective on shares of Permian Resources in a research note on Tuesday. Mizuho upped their price objective on Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Bank of America initiated coverage on Permian Resources in a research note on Friday, January 5th. They issued a “neutral” rating and a $15.00 price objective on the stock. Finally, Stifel Nicolaus upped their price objective on Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.31.

Insiders Place Their Bets

In other Permian Resources news, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total transaction of $141,390,000.00. Following the transaction, the insider now owns 25,477,527 shares of the company’s stock, valued at approximately $400,251,949.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total value of $141,390,000.00. Following the transaction, the insider now owns 25,477,527 shares of the company’s stock, valued at approximately $400,251,949.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Brent P. Jensen sold 203,687 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.55, for a total value of $2,963,645.85. Following the completion of the transaction, the chief accounting officer now directly owns 1,062,345 shares in the company, valued at approximately $15,457,119.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,916,943 shares of company stock valued at $516,796,999. 23.14% of the stock is currently owned by corporate insiders.

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.