Teacher Retirement System of Texas Sells 54,616 Shares of Permian Resources Corporation $PR

Teacher Retirement System of Texas reduced its holdings in Permian Resources Corporation (NYSE:PR) by 28.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 140,313 shares of the company’s stock after selling 54,616 shares during the quarter. Teacher Retirement System of Texas’ holdings in Permian Resources were worth $1,796,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. AQR Capital Management LLC boosted its position in shares of Permian Resources by 69.2% during the 1st quarter. AQR Capital Management LLC now owns 149,696 shares of the company’s stock valued at $2,060,000 after acquiring an additional 61,230 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Permian Resources by 18.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,452,127 shares of the company’s stock valued at $75,512,000 after purchasing an additional 852,347 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Permian Resources by 7.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,209,457 shares of the company’s stock valued at $16,751,000 after purchasing an additional 87,105 shares during the last quarter. Signaturefd LLC grew its stake in Permian Resources by 23.9% in the 2nd quarter. Signaturefd LLC now owns 12,224 shares of the company’s stock worth $166,000 after buying an additional 2,358 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Permian Resources by 3.4% in the 2nd quarter. Truist Financial Corp now owns 205,322 shares of the company’s stock worth $2,796,000 after buying an additional 6,665 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, EVP Robert Regan Shannon sold 106,405 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total value of $1,450,300.15. Following the completion of the transaction, the executive vice president directly owned 360,667 shares in the company, valued at approximately $4,915,891.21. This represents a 22.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Guy M. Oliphint sold 172,904 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 $2,356,681.52. Following the completion of the sale, the executive vice president directly owned 616,683 shares of the company’s stock, valued at approximately $8,405,389.29. This represents a 21.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,210,456 shares of company stock worth $30,231,728 over the last three months. 6.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PR. Morgan Stanley dropped their price objective on shares of Permian Resources from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Mizuho lifted their price target on Permian Resources from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Bank of America reissued a “neutral” rating and set a $16.00 price objective (down from $17.00) on shares of Permian Resources in a report on Friday, January 16th. Finally, Susquehanna lowered their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “positive” rating for the company in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.71.

Permian Resources Stock Performance

NYSE:PR opened at $16.12 on Friday. 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 $16.25. The firm has a market cap of $13.37 billion, a PE ratio of 14.79 and a beta of 0.66. The business has a 50 day moving average price of $14.41 and a 200-day moving average price of $13.70.

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

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $0.60 annualized dividend and a dividend yield of 3.7%. Permian Resources’s dividend payout ratio (DPR) is presently 55.05%.

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.