Y Intercept Hong Kong Ltd Sells 232,782 Shares of Permian Resources Corporation $PR

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Permian Resources Corporation (NYSE:PR) by 52.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,625 shares of the company’s stock after selling 232,782 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Permian Resources were worth $4,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of Permian Resources by 115.5% in the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after acquiring an additional 13,483,136 shares in the last quarter. Boston Partners increased its position in shares of Permian Resources by 76.2% in the third quarter. Boston Partners now owns 17,350,663 shares of the company’s stock worth $222,099,000 after purchasing an additional 7,503,654 shares during the last quarter. Millennium Management LLC increased its position in shares of Permian Resources by 210.6% in the third quarter. Millennium Management LLC now owns 9,850,059 shares of the company’s stock worth $126,081,000 after purchasing an additional 6,678,814 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Permian Resources by 16.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock worth $443,856,000 after purchasing an additional 4,533,732 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Permian Resources by 73.8% in the fourth quarter. Wellington Management Group LLP now owns 9,833,783 shares of the company’s stock valued at $137,968,000 after purchasing an additional 4,176,224 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insider Activity at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of Permian Resources stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the transaction, the executive vice president owned 542,503 shares in the company, valued at $11,088,761.32. This trade represents a 10.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PR shares. TD Cowen lifted their target price on shares of Permian Resources from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Raymond James Financial decreased their price target on shares of Permian Resources from $29.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, June 17th. Wells Fargo & Company set a $26.00 price objective on shares of Permian Resources in a research report on Monday, May 25th. Scotiabank lifted their price objective on shares of Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Four equities 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $23.53.

Permian Resources Stock Performance

NYSE:PR opened at $18.20 on Monday. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 21.16 and a beta of 0.46. The business has a 50 day moving average of $19.76 and a 200 day moving average of $18.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.66 and a quick ratio of 0.66. Permian Resources Corporation has a 1-year low of $11.92 and a 1-year high of $22.67.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. On average, sell-side analysts predict that Permian Resources Corporation will post 1.97 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued 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 dividend yield of 3.5%. Permian Resources’s dividend payout ratio (DPR) is currently 74.42%.

Permian Resources Company 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.