Healthcare of Ontario Pension Plan Trust Fund Takes Position in Permian Resources Corporation $PR

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Permian Resources Corporation (NYSE:PR) during the first quarter, according to its most recent filing with the SEC. The fund acquired 480,483 shares of the company’s stock, valued at approximately $10,244,000.

Other institutional investors have also added to or reduced their stakes in the company. Horizon Investments LLC increased its position in shares of Permian Resources by 80.8% during the fourth quarter. Horizon Investments LLC now owns 420,448 shares of the company’s stock valued at $5,899,000 after buying an additional 187,903 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Permian Resources by 35.3% in the first quarter. Sanctuary Advisors LLC now owns 191,058 shares of the company’s stock valued at $4,073,000 after acquiring an additional 49,798 shares during the period. Sterling Capital Management LLC grew its stake in Permian Resources by 98.0% during the first quarter. Sterling Capital Management LLC now owns 168,262 shares of the company’s stock valued at $3,587,000 after acquiring an additional 83,302 shares in the last quarter. HighTower Advisors LLC grew its stake in Permian Resources by 55.2% during the fourth quarter. HighTower Advisors LLC now owns 259,403 shares of the company’s stock valued at $3,639,000 after acquiring an additional 92,309 shares in the last quarter. Finally, UBS Group AG increased its holdings in Permian Resources by 39.5% during the 4th quarter. UBS Group AG now owns 6,560,632 shares of the company’s stock worth $92,046,000 after acquiring an additional 1,858,992 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup cut their price target on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Morgan Stanley decreased their price target on shares of Permian Resources from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Roth Capital set a $23.00 price objective on Permian Resources and gave the stock a “buy” rating in a research report on Monday, June 22nd. UBS Group dropped their price objective on Permian Resources from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Finally, Scotiabank boosted their target price on Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $23.29.

Insiders Place Their Bets

In related news, EVP Guy M. Oliphint sold 62,769 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the sale, the executive vice president owned 542,503 shares in the company, valued at $11,088,761.32. The trade was a 10.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.00% of the stock is owned by insiders.

Permian Resources Trading Down 2.3%

Shares of Permian Resources stock opened at $19.78 on Wednesday. Permian Resources Corporation has a 1 year low of $11.92 and a 1 year high of $22.67. The firm has a market cap of $16.56 billion, a PE ratio of 23.00 and a beta of 0.46. 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 company has a 50 day simple moving average of $19.47 and a two-hundred day simple moving average of $18.90.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. Analysts expect that Permian Resources Corporation will post 1.94 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.2%. Permian Resources’s payout ratio is 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.