Permian Resources Corporation $PR Stake Lessened by Schroder Investment Management Group

Schroder Investment Management Group decreased its holdings in shares of Permian Resources Corporation (NYSE:PR) by 16.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,874,573 shares of the company’s stock after selling 554,675 shares during the quarter. Schroder Investment Management Group owned 0.36% of Permian Resources worth $37,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PR. Ruffer LLP bought a new stake in Permian Resources in the third quarter worth approximately $2,608,000. Massachusetts Financial Services Co. MA boosted its holdings in Permian Resources by 8.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,453,672 shares of the company’s stock worth $236,207,000 after purchasing an additional 1,421,059 shares in the last quarter. American Century Companies Inc. increased its position in Permian Resources by 20.3% during the second quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock worth $150,409,000 after buying an additional 1,863,632 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Permian Resources by 101.0% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 540,618 shares of the company’s stock valued at $6,920,000 after buying an additional 271,668 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its position in shares of Permian Resources by 599.2% in the second quarter. Cresset Asset Management LLC now owns 174,508 shares of the company’s stock worth $2,377,000 after buying an additional 149,548 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Price Performance

Shares of NYSE:PR opened at $19.36 on Thursday. The firm has a market capitalization of $16.06 billion, a PE ratio of 15.49 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.31. Permian Resources Corporation has a 1-year low of $10.01 and a 1-year high of $19.43. The business’s 50 day moving average is $16.29 and its 200-day moving average is $14.51.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, February 25th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the business earned $0.36 earnings per share. Permian Resources’s quarterly revenue was down 9.8% compared to the same quarter last year. Sell-side analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.3%. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s dividend payout ratio is currently 51.20%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PR. Susquehanna lowered their price objective on Permian Resources from $20.00 to $18.00 and set a “positive” rating on the stock in a report on Monday, January 26th. Wall Street Zen upgraded Permian Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Piper Sandler boosted their price objective on shares of Permian Resources from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. TD Cowen upgraded shares of Permian Resources to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Zacks Research raised shares of Permian Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Insider Activity at Permian Resources

In other news, EVP Guy M. Oliphint sold 172,904 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $2,356,681.52. Following the completion of the transaction, the executive vice president directly owned 616,683 shares of the company’s stock, valued at approximately $8,405,389.29. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William M. Hickey III sold 898,423 shares of Permian Resources stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total transaction of $16,513,014.74. Following the sale, the chief executive officer owned 9,389,405 shares in the company, valued at approximately $172,577,263.90. This trade represents a 8.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,965,093 shares of company stock worth $62,487,101 in the last ninety days. Company insiders own 6.44% of the company’s stock.

Permian Resources 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.