Natixis Advisors LLC Has $21.57 Million Stake in Permian Resources Co. (NYSE:PR)

Natixis Advisors LLC lifted its holdings in shares of Permian Resources Co. (NYSE:PR) by 29.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,499,643 shares of the company’s stock after acquiring an additional 343,998 shares during the period. Natixis Advisors LLC’s holdings in Permian Resources were worth $21,565,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Louisiana State Employees Retirement System grew its holdings in Permian Resources by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock valued at $2,540,000 after purchasing an additional 700 shares during the period. Sunbelt Securities Inc. grew its holdings in Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after purchasing an additional 800 shares during the period. CIBC Asset Management Inc grew its holdings in Permian Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company’s stock valued at $226,000 after purchasing an additional 805 shares during the period. Principal Securities Inc. grew its holdings in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Permian Resources by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company’s stock valued at $1,862,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director William J. Quinn purchased 500,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the transaction, the director now owns 812,429 shares of the company’s stock, valued at $10,618,447.03. The trade was a 160.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,446 shares of company stock valued at $269,731. 12.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup cut shares of Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Morgan Stanley began coverage on shares of Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective for the company. Piper Sandler reduced their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Williams Trading set a $19.00 price target on shares of Permian Resources in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.35.

Permian Resources Stock Performance

Shares of PR stock opened at $13.61 on Tuesday. The company’s fifty day simple moving average is $14.39 and its 200-day simple moving average is $14.34. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a market cap of $10.93 billion, a PE ratio of 8.25, a P/E/G ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 12 month low of $11.84 and a 12 month high of $18.28.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

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.