Permian Resources Co. (NYSE:PR) Stake Increased by Capital Fund Management S.A.

Capital Fund Management S.A. raised its stake in shares of Permian Resources Co. (NYSE:PR) by 456.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,804 shares of the company’s stock after acquiring an additional 99,904 shares during the quarter. Capital Fund Management S.A.’s holdings in Permian Resources were worth $1,752,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Securities Inc. increased its stake in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Permian Resources during the 4th quarter valued at about $31,000. Global Retirement Partners LLC raised its stake in Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after acquiring an additional 1,232 shares during the period. Rakuten Securities Inc. lifted its holdings in Permian Resources by 1,152.5% in the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after acquiring an additional 2,305 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Permian Resources by 294.8% in the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after acquiring an additional 2,155 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PR. Bank of America cut their price target on Permian Resources from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. reduced their price target on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $17.00 to $20.00 in a report on Wednesday, March 5th. Royal Bank of Canada reduced their target price on shares of Permian Resources from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Piper Sandler decreased their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources has a consensus rating of “Moderate Buy” and a consensus price target of $18.73.

Permian Resources Price Performance

NYSE PR opened at $11.02 on Wednesday. The firm has a market capitalization of $8.85 billion, a PE ratio of 6.68, a P/E/G ratio of 4.05 and a beta of 3.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a 12 month low of $10.01 and a 12 month high of $17.84. The company’s 50 day simple moving average is $13.20 and its 200 day simple moving average is $14.16.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources’s dividend payout ratio is presently 41.96%.

Insider Activity

In other Permian Resources news, EVP John Charles Bell sold 2,804 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the transaction, the executive vice president now owns 74,433 shares in the company, valued at approximately $1,044,294.99. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the transaction, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,685 shares of company stock worth $135,687 over the last 90 days. 12.80% of the stock is currently owned by company insiders.

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