Nordea Investment Management AB Buys 4,115 Shares of Permian Resources Co. (NYSE:PR)

Nordea Investment Management AB boosted its stake in Permian Resources Co. (NYSE:PR) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,054 shares of the company’s stock after acquiring an additional 4,115 shares during the period. Nordea Investment Management AB’s holdings in Permian Resources were worth $4,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PR. Hexagon Capital Partners LLC boosted its position in shares of Permian Resources by 28,542.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after purchasing an additional 1,998 shares in the last quarter. UMB Bank n.a. lifted its stake in Permian Resources by 99.2% in the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock valued at $38,000 after buying an additional 1,390 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after buying an additional 800 shares in the last quarter. Blue Trust Inc. grew its position in shares of Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after buying an additional 2,629 shares during the period. Finally, National Bank of Canada FI bought a new stake in shares of Permian Resources in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Activity

In other news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.80% of the company’s stock.

Permian Resources Stock Up 1.1 %

PR opened at $15.15 on Friday. Permian Resources Co. has a fifty-two week low of $12.59 and a fifty-two week high of $18.28. The firm has a market capitalization of $12.17 billion, a P/E ratio of 9.18, a PEG ratio of 0.88 and a beta of 4.32. The company’s 50-day moving average is $14.79 and its 200 day moving average is $14.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68.

Permian Resources (NYSE:PR) last posted its earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.32 by $0.21. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. Research analysts expect that Permian Resources Co. will post 1.47 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Thursday, November 14th. This is an increase from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio is 36.36%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PR. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 target price on shares of Permian Resources in a research note on Monday, October 14th. Mizuho cut their price objective on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Morgan Stanley started coverage on Permian Resources in a research report on Friday. They issued an “overweight” rating and a $19.00 target price for the company. Benchmark cut their price target on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group began coverage on Permian Resources in a report on Monday, September 30th. They set a “buy” rating and a $19.00 price objective for the company. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.88.

About Permian Resources

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.