Public Employees Retirement System of Ohio Sells 94,521 Shares of Permian Resources Corporation $PR

Public Employees Retirement System of Ohio decreased its position in shares of Permian Resources Corporation (NYSE:PR) by 16.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 473,820 shares of the company’s stock after selling 94,521 shares during the period. Public Employees Retirement System of Ohio’s holdings in Permian Resources were worth $10,102,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PR. Meiji Yasuda Asset Management Co Ltd. raised its position in Permian Resources by 4.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock valued at $224,000 after purchasing an additional 607 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Permian Resources by 21.3% in the 1st quarter. Bessemer Group Inc. now owns 3,537 shares of the company’s stock valued at $76,000 after purchasing an additional 621 shares in the last quarter. Waterloo Capital L.P. boosted its holdings in shares of Permian Resources by 3.1% in the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company’s stock valued at $305,000 after purchasing an additional 657 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of Permian Resources by 5.4% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company’s stock valued at $192,000 after purchasing an additional 706 shares during the last quarter. Finally, Dean Investment Associates LLC increased its stake in shares of Permian Resources by 0.3% in the 4th quarter. Dean Investment Associates LLC now owns 265,615 shares of the company’s stock valued at $3,727,000 after purchasing an additional 922 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Permian Resources Stock Down 5.1%

Shares of PR opened at $20.25 on Tuesday. Permian Resources Corporation has a 52 week low of $11.92 and a 52 week high of $22.67. The stock has a market capitalization of $16.96 billion, a price-to-earnings ratio of 23.55 and a beta of 0.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a fifty day moving average of $19.50 and a 200-day moving average of $18.85.

Permian Resources (NYSE:PR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company posted $0.44 EPS. Permian Resources’s quarterly revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Permian Resources Corporation will post 1.94 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is 74.42%.

Insider Transactions at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of Permian Resources stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the sale, the executive vice president directly owned 542,503 shares in the company, valued at $11,088,761.32. This trade represents a 10.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PR shares. Roth Capital set a $23.00 price objective on Permian Resources and gave the stock a “buy” rating in a research report on Monday, June 22nd. Weiss Ratings cut Permian Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. UBS Group lowered their target price on Permian Resources from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Scotiabank increased their target price on shares of Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, Raymond James Financial decreased their price target on shares of Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, June 17th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $23.29.

Permian Resources 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.