Universal Beteiligungs und Servicegesellschaft mbH Has $5.03 Million Stock Holdings in Permian Resources Corporation $PR

Universal Beteiligungs und Servicegesellschaft mbH cut its holdings in Permian Resources Corporation (NYSE:PR) by 34.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 356,825 shares of the company’s stock after selling 183,793 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Permian Resources were worth $5,026,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PR. Boston Partners raised its position in shares of Permian Resources by 76.2% in the third quarter. Boston Partners now owns 17,350,663 shares of the company’s stock valued at $222,099,000 after purchasing an additional 7,503,654 shares during the period. Vanguard Group Inc. raised its position in shares of Permian Resources by 10.4% in the third quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock valued at $914,733,000 after purchasing an additional 6,705,644 shares during the period. Millennium Management LLC raised its position in shares of Permian Resources by 210.6% in the third quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock valued at $126,081,000 after purchasing an additional 6,678,814 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Permian Resources by 20.9% in the third quarter. Dimensional Fund Advisors LP now owns 27,101,840 shares of the company’s stock valued at $346,919,000 after purchasing an additional 4,691,280 shares during the period. Finally, Merewether Investment Management LP raised its position in shares of Permian Resources by 63.5% in the third quarter. Merewether Investment Management LP now owns 8,836,137 shares of the company’s stock valued at $113,103,000 after purchasing an additional 3,431,900 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Permian Resources

In related news, CEO James H. Walter sold 673,425 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total transaction of $12,377,551.50. Following the transaction, the chief executive officer owned 9,389,405 shares of the company’s stock, valued at approximately $172,577,263.90. The trade was a 6.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William M. Hickey III sold 898,423 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.38, for a total transaction of $16,513,014.74. Following the transaction, the chief executive officer directly owned 9,389,405 shares in the company, valued at $172,577,263.90. This trade represents a 8.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,130,066 shares of company stock valued at $58,837,655 in the last three months. 5.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on PR. UBS Group lifted their price target on shares of Permian Resources from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Citigroup lifted their price target on shares of Permian Resources from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Piper Sandler lifted their price target on shares of Permian Resources from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. Truist Financial lifted their price target on shares of Permian Resources from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Finally, Scotiabank lifted their price target on shares of Permian Resources from $21.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Permian Resources has a consensus rating of “Buy” and a consensus price target of $22.38.

Permian Resources Trading Up 1.3%

Shares of PR stock opened at $20.90 on Wednesday. Permian Resources Corporation has a 1 year low of $11.58 and a 1 year high of $21.99. The firm’s fifty day simple moving average is $19.76 and its 200 day simple moving average is $16.17. The firm has a market capitalization of $17.47 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 2.60 and a beta of 0.56. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last announced its earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Permian Resources’s revenue was down 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Permian Resources Corporation will post 1.88 EPS for the current year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.1%. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, March 17th. Permian Resources’s payout ratio is presently 51.20%.

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.