Mizuho Markets Americas LLC Buys 125,800 Shares of Permian Resources Corporation $PR

Mizuho Markets Americas LLC increased its stake in shares of Permian Resources Corporation (NYSE:PR) by 16.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 913,547 shares of the company’s stock after buying an additional 125,800 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Permian Resources were worth $11,693,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PR. Amalgamated Bank raised its holdings in shares of Permian Resources by 8.9% in the 3rd quarter. Amalgamated Bank now owns 317,728 shares of the company’s stock worth $4,067,000 after purchasing an additional 25,846 shares during the period. Massachusetts Financial Services Co. MA increased its position in Permian Resources by 8.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,453,672 shares of the company’s stock worth $236,207,000 after buying an additional 1,421,059 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Permian Resources by 4.2% in the third quarter. Sequoia Financial Advisors LLC now owns 38,576 shares of the company’s stock valued at $494,000 after buying an additional 1,545 shares during the period. Maryland State Retirement & Pension System raised its stake in shares of Permian Resources by 10.1% in the third quarter. Maryland State Retirement & Pension System now owns 33,686 shares of the company’s stock valued at $431,000 after buying an additional 3,102 shares during the period. Finally, Evergreen Capital Management LLC grew its stake in shares of Permian Resources by 103.8% during the 3rd quarter. Evergreen Capital Management LLC now owns 26,590 shares of the company’s stock worth $340,000 after acquiring an additional 13,542 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Stock Performance

Permian Resources stock opened at $14.39 on Monday. The firm has a fifty day simple moving average of $14.13 and a two-hundred day simple moving average of $13.63. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.31. Permian Resources Corporation has a twelve month low of $10.01 and a twelve month high of $16.03. The company has a market capitalization of $11.93 billion, a PE ratio of 13.20 and a beta of 0.66.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). Permian Resources had a net margin of 15.65% and a return on equity of 11.03%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm posted $0.53 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Research analysts expect that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, December 17th. Permian Resources’s dividend payout ratio is currently 55.05%.

Wall Street Analysts Forecast Growth

PR has been the topic of a number of research reports. Morgan Stanley restated an “overweight” rating on shares of Permian Resources in a research note on Thursday, November 20th. The Goldman Sachs Group raised their price objective on shares of Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Mizuho lifted their price target on Permian Resources from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, Royal Bank Of Canada increased their price objective on Permian Resources from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Permian Resources presently has an average rating of “Moderate Buy” and a consensus price target of $18.79.

Insider Buying and Selling

In related news, CEO James H. Walter sold 467,700 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total transaction of $6,374,751.00. Following the transaction, the chief executive officer owned 1,010,138 shares in the company, valued at $13,768,180.94. The trade was a 31.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Regan Shannon sold 106,405 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $1,450,300.15. Following the transaction, the executive vice president directly owned 360,667 shares in the company, valued at approximately $4,915,891.21. The trade was a 22.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,210,456 shares of company stock valued at $30,231,728 over the last ninety days. Corporate insiders own 6.44% of the company’s stock.

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.