Whittier Trust Co. of Nevada Inc. Purchases 279,200 Shares of Permian Resources Corporation $PR

Whittier Trust Co. of Nevada Inc. boosted its position in shares of Permian Resources Corporation (NYSE:PR) by 7,916.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 282,727 shares of the company’s stock after buying an additional 279,200 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Permian Resources were worth $3,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of PR. Bank of New York Mellon Corp raised its stake in Permian Resources by 86.8% in the second quarter. Bank of New York Mellon Corp now owns 23,963,307 shares of the company’s stock valued at $326,380,000 after buying an additional 11,133,354 shares during the period. Boston Partners bought a new stake in Permian Resources in the 2nd quarter valued at $134,119,000. Holocene Advisors LP acquired a new stake in Permian Resources during the 2nd quarter valued at $42,606,000. American Century Companies Inc. boosted its position in Permian Resources by 20.3% during the second quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock worth $150,409,000 after purchasing an additional 1,863,632 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Permian Resources by 62.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,788,871 shares of the company’s stock valued at $48,498,000 after purchasing an additional 1,458,315 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PR has been the subject of a number of research reports. Bank of America restated a “neutral” rating and set a $16.00 target price (down previously from $17.00) on shares of Permian Resources in a research note on Friday, January 16th. Mizuho increased their target price on Permian Resources from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Morgan Stanley reduced their price target on Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Permian Resources in a research report on Monday, December 29th. Finally, Piper Sandler reduced their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.79.

Permian Resources Stock Performance

NYSE PR opened at $14.78 on Monday. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $15.69. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 13.56 and a beta of 0.66. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.31. The firm’s 50 day simple moving average is $14.24 and its 200 day simple moving average is $13.64.

Permian Resources (NYSE:PR) last issued 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 business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts expect 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 was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.1%. Permian Resources’s payout ratio is 55.05%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, EVP Guy M. Oliphint sold 172,904 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total value of $2,356,681.52. Following the sale, the executive vice president owned 616,683 shares in the company, valued at $8,405,389.29. This trade represents a 21.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 stock was sold at an average price of $13.63, for a total transaction of $1,450,300.15. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold 2,210,456 shares of company stock worth $30,231,728 over the last 90 days. 12.80% of the stock is owned by corporate insiders.

About Permian Resources

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.