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 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
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.
- Get a free copy of the StockNews.com research report on Permian Resources (PR)
- MarketBeat Week in Review – 1/16 – 1/20
- Does Old Dominion Show That Trucking Is Hitting The Brakes?
- Nordstrom Puts Fear Of Markdowns Into Retail Sector
- Exxon Mobil Stock: Within Striking Distance Of Buy Point
- High-Dividend-Yielding BHP Sees China Driving ’23 Growth
Receive News & Ratings for Permian Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Permian Resources and related companies with MarketBeat.com's FREE daily email newsletter.