162,929 Shares in Permian Resources Co. (NASDAQ:PR) Purchased by Comerica Bank

Comerica Bank acquired a new stake in Permian Resources Co. (NASDAQ:PR – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 162,929 shares of the company’s stock, valued at approximately $1,579,000.

Several other large investors also recently modified their holdings of the stock. Sanders Morris Harris LLC acquired a new stake in shares of Permian Resources during the 3rd quarter worth about $4,557,000. Mackenzie Financial Corp bought a new position in Permian Resources in the 3rd quarter valued at $476,000. Tributary Capital Management LLC bought a new position in Permian Resources in the 3rd quarter valued at $11,505,000. Diversified Trust Co acquired a new stake in shares of Permian Resources in the third quarter valued at $270,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Permian Resources in the third quarter valued at $352,000. 88.44% of the stock is currently owned by institutional investors.

Permian Resources Trading Up 0.6 %

Shares of PR opened at $10.54 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $5.88 billion, a PE ratio of 5.67 and a beta of 4.51. The stock’s 50-day moving average is $9.61. Permian Resources Co. has a 1 year low of $5.08 and a 1 year high of $11.43.

Permian Resources (NASDAQ:PR – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The firm had revenue of $549.78 million for the quarter, compared to analyst estimates of $507.25 million. Permian Resources had a net margin of 35.15% and a return on equity of 16.19%. As a group, equities analysts forecast that Permian Resources Co. will post 1.77 EPS for the current year.

Permian Resources Announces Dividend

The firm also recently announced a — dividend, which was paid on Tuesday, November 29th. Shareholders of record on Monday, November 21st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, November 18th. Permian Resources’s dividend payout ratio is presently 10.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citigroup initiated coverage on shares of Permian Resources in a report on Wednesday, October 26th. They set a “buy” rating and a $12.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Permian Resources from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Mizuho started coverage on Permian Resources in a research note on Monday, January 9th. They issued a “neutral” rating and a $13.00 target price for the company. Piper Sandler decreased their price target on Permian Resources from $15.00 to $14.00 in a report on Thursday, December 1st. Finally, Truist Financial upped their target price on shares of Permian Resources from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.00.

Insiders Place Their Bets

In related news, COO Matthew R. Garrison sold 40,000 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $11.01, for a total transaction of $440,400.00. Following the completion of the sale, the chief operating officer now directly owns 1,107,566 shares of the company’s stock, valued at approximately $12,194,301.66. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 29.20% of the company’s stock.

Permian Resources Profile

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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. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company's properties consist of acreage blocks primarily in Reeves County, West Texas and Lea County, New Mexico.