Axa S.A. Takes $553,000 Position in Permian Resources Co. (NASDAQ:PR)

Posted by Defense World Staff on Mar 1st, 2023

Axa S.A. acquired a new stake in Permian Resources Co. (NASDAQ:PR – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 81,300 shares of the company’s stock, valued at approximately $553,000.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PR. Truist Financial lifted their price target on Permian Resources from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Susquehanna upped their price objective on shares of Permian Resources from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday. Mizuho initiated coverage on Permian Resources in a research note on Monday, January 9th. They issued a “neutral” rating and a $13.00 target price on the stock. Finally, Piper Sandler dropped their price objective on Permian Resources from $15.00 to $14.00 in a report on Thursday, December 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.83.

Permian Resources Trading Down 3.2 %

Shares of PR opened at $10.81 on Wednesday. The stock has a market cap of $6.03 billion, a P/E ratio of 6.71 and a beta of 4.53. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.42. Permian Resources Co. has a 12 month low of $5.08 and a 12 month high of $11.48. The company’s fifty day simple moving average is $9.93.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, March 7th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 6th. This represents a $0.20 dividend on an annualized basis and a yield of 1.85%. Permian Resources’s dividend payout ratio (DPR) is 12.42%.

About Permian Resources

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Permian Resources Corp. operates as an oil and natural gas company. It focuses on the development of unconventional oil and liquids-rich natural gas reserves in the Permian Basin. The company was founded on October 6, 2014 and is headquartered in Denver, CO.