Grantham Mayo Van Otterloo & Co. LLC Has $169.77 Million Position in Permian Resources Corporation $PR

Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Permian Resources Corporation (NYSE:PR) by 24.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,263,570 shares of the company’s stock after buying an additional 2,628,744 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Permian Resources were worth $169,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PR. Chilton Capital Management LLC grew its stake in Permian Resources by 3.5% during the 3rd quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock valued at $303,000 after acquiring an additional 800 shares in the last quarter. SCS Capital Management LLC lifted its position in shares of Permian Resources by 0.6% in the second quarter. SCS Capital Management LLC now owns 141,205 shares of the company’s stock worth $1,923,000 after purchasing an additional 870 shares in the last quarter. Inscription Capital LLC boosted its holdings in shares of Permian Resources by 3.5% during the third quarter. Inscription Capital LLC now owns 28,219 shares of the company’s stock worth $361,000 after purchasing an additional 948 shares during the period. Rothschild Investment LLC boosted its holdings in shares of Permian Resources by 7.1% during the third quarter. Rothschild Investment LLC now owns 14,651 shares of the company’s stock worth $188,000 after purchasing an additional 974 shares during the period. Finally, ProShare Advisors LLC grew its position in Permian Resources by 3.8% during the second quarter. ProShare Advisors LLC now owns 28,278 shares of the company’s stock valued at $385,000 after purchasing an additional 1,025 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

PR has been the topic of several research reports. Citigroup upped their price objective on shares of Permian Resources from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their price target on shares of Permian Resources from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, January 27th. Bank of America reaffirmed a “neutral” rating and issued a $16.00 price target (down from $17.00) on shares of Permian Resources in a research note on Friday, January 16th. UBS Group increased their price objective on Permian Resources from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wall Street Zen raised Permian Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.69.

Permian Resources Price Performance

NYSE PR opened at $18.88 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $15.66 billion, a PE ratio of 15.10 and a beta of 0.66. The company has a 50 day moving average price of $15.99 and a two-hundred day moving average price of $14.39. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $19.38.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.32 billion. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. As a group, equities analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.16 dividend. This is a boost from Permian Resources’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, March 17th. Permian Resources’s dividend payout ratio is currently 48.00%.

Key Stories Impacting Permian Resources

Here are the key news stories impacting Permian Resources this week:

• Positive Sentiment: Piper Sandler raised its price target to $24 and moved to an “overweight” rating, implying material upside and likely supporting buying interest. Piper Sandler raises target
• Positive Sentiment: UBS increased its target to $23 and kept a “buy” rating, another buy-side endorsement that can attract institutional flows. UBS raises target
• Positive Sentiment: Citigroup lifted its target to $21 and reiterated a “buy” note, adding to the cluster of upgrades. Citigroup raises target
• Positive Sentiment: Permian raised its quarterly dividend to $0.16 (ex?div Mar 17; payable Mar 31), increasing yield and making the shares more attractive to income-focused investors. MarketBeat — Dividend announcement
• Positive Sentiment: Large institutional purchases reported earlier (BNY Mellon, Vanguard, Millennium et al.) show heavy institutional ownership and recent inflows that can support the stock on positive news. MarketBeat — Institutional holdings
• Neutral Sentiment: Q4 results were mixed — EPS beat ($0.37 vs. $0.28) but revenue missed and was down ~9.8% YoY. The print supports valuation but raises questions on top-line momentum. MarketBeat — Q4 results
• Neutral Sentiment: Analyst coverage roundup (Benzinga) highlights divergent targets/ratings — useful context for trading but not a single directional catalyst. Benzinga analyst roundup
• Negative Sentiment: Clustered insider selling: multiple senior executives disclosed multi?million?dollar sales (including large blocks by the CEO and other EVPs). Heavy insider dispositions can sap sentiment and raise questions about timing/intent. InsiderTrades — Insider selling
• Negative Sentiment: Benchmark downgraded PR from “buy” to “hold,” which could reduce urgency among some buy?side managers despite other upgrades. MSN — Benchmark downgrade

Insider Activity

In other Permian Resources news, EVP Robert Regan Shannon sold 106,405 shares of the firm’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 $1,450,300.15. Following the transaction, the executive vice president directly owned 360,667 shares in the company, valued at $4,915,891.21. This trade represents a 22.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Charles Bell sold 158,385 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $18.39, for a total value of $2,912,700.15. Following the completion of the sale, the executive vice president directly owned 1,567,172 shares of the company’s stock, valued at $28,820,293.08. This represents a 9.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 3,965,093 shares of company stock valued at $62,487,101. Corporate insiders own 6.44% of the company’s stock.

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.