Mizuho Markets Americas LLC Sells 46,800 Shares of Permian Resources Corporation $PR

Mizuho Markets Americas LLC lessened its stake in Permian Resources Corporation (NYSE:PR) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 866,747 shares of the company’s stock after selling 46,800 shares during the quarter. Mizuho Markets Americas LLC owned approximately 0.10% of Permian Resources worth $12,160,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Permian Resources by 4.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company’s stock valued at $224,000 after purchasing an additional 607 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in Permian Resources during the fourth quarter worth $271,000. Global Retirement Partners LLC lifted its holdings in Permian Resources by 1,042.4% during the fourth quarter. Global Retirement Partners LLC now owns 10,133 shares of the company’s stock worth $142,000 after acquiring an additional 9,246 shares during the period. Mach 1 Financial Group LLC bought a new stake in Permian Resources during the fourth quarter worth $194,000. Finally, Callahan Advisors LLC lifted its holdings in Permian Resources by 4.8% during the fourth quarter. Callahan Advisors LLC now owns 22,093 shares of the company’s stock worth $310,000 after acquiring an additional 1,004 shares during the period. Institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. TD Cowen lifted their price target on Permian Resources from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Wells Fargo & Company lifted their price target on Permian Resources from $21.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. UBS Group lifted their price target on Permian Resources from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Piper Sandler lifted their price target on Permian Resources from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Finally, Citigroup lifted their price target on Permian Resources from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Permian Resources presently has a consensus rating of “Buy” and an average price target of $22.38.

Insiders Place Their Bets

In other Permian Resources news, Director Aron Marquez sold 7,750 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $19.62, for a total value of $152,055.00. Following the completion of the sale, the director directly owned 72,218 shares of the company’s stock, valued at $1,416,917.16. This trade represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William J. Quinn sold 512,429 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $19.59, for a total value of $10,038,484.11. Following the completion of the sale, the director directly owned 6,914,410 shares of the company’s stock, valued at $135,453,291.90. This represents a 6.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,192,835 shares of company stock valued at $60,120,653. Company insiders own 5.00% of the company’s stock.

Permian Resources Stock Performance

NYSE:PR opened at $20.45 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. The business has a fifty day simple moving average of $20.53 and a two-hundred day simple moving average of $17.07. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67. The company has a market capitalization of $17.12 billion, a P/E ratio of 23.78 and a beta of 0.52.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts expect that Permian Resources Corporation will post 1.98 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 16th. Permian Resources’s dividend payout ratio (DPR) is currently 74.42%.

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.