Texas Permanent School Fund Corp Purchases 255,231 Shares of Permian Resources Corporation $PR

Texas Permanent School Fund Corp boosted its position in Permian Resources Corporation (NYSE:PR) by 60.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 680,406 shares of the company’s stock after purchasing an additional 255,231 shares during the period. Texas Permanent School Fund Corp’s holdings in Permian Resources were worth $9,267,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PR. Bank of New York Mellon Corp raised its position in shares of Permian Resources by 86.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 23,963,307 shares of the company’s stock worth $326,380,000 after acquiring an additional 11,133,354 shares in the last quarter. Boston Partners acquired a new stake in Permian Resources during the second quarter worth approximately $134,119,000. Alyeska Investment Group L.P. increased its holdings in Permian Resources by 300.3% in the first quarter. Alyeska Investment Group L.P. now owns 5,833,001 shares of the company’s stock worth $80,787,000 after purchasing an additional 4,375,930 shares in the last quarter. Holocene Advisors LP acquired a new position in Permian Resources in the second quarter valued at approximately $42,606,000. Finally, Millennium Management LLC boosted its holdings in shares of Permian Resources by 56.7% during the 1st quarter. Millennium Management LLC now owns 7,578,553 shares of the company’s stock worth $104,963,000 after buying an additional 2,743,272 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Price Performance

Shares of NYSE PR opened at $14.40 on Tuesday. The stock has a market cap of $11.95 billion, a price-to-earnings ratio of 13.21 and a beta of 0.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.67 and a current ratio of 0.67. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $16.03. The firm’s 50-day simple moving average is $13.39 and its 200 day simple moving average is $13.61.

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

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, December 17th. Permian Resources’s dividend payout ratio is presently 55.05%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Permian Resources in a research note on Monday, December 8th. The Goldman Sachs Group lifted their price target on shares of Permian Resources from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Raymond James Financial dropped their price objective on shares of Permian Resources from $23.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Tuesday, September 2nd. Royal Bank Of Canada raised their target price on Permian Resources from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, William Blair assumed coverage on Permian Resources in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.07.

Permian Resources 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.