Permian Resources Co. (NYSE:PR) Stake Boosted by Xponance Inc.

Xponance Inc. increased its stake in Permian Resources Co. (NYSE:PR) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,264 shares of the company’s stock after purchasing an additional 3,180 shares during the period. Xponance Inc.’s holdings in Permian Resources were worth $1,240,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PR. State Street Corp raised its holdings in shares of Permian Resources by 6.1% during the third quarter. State Street Corp now owns 22,027,153 shares of the company’s stock valued at $299,790,000 after buying an additional 1,263,460 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Permian Resources by 7.2% during the 4th quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company’s stock valued at $196,025,000 after acquiring an additional 909,740 shares in the last quarter. Geode Capital Management LLC boosted its position in Permian Resources by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock worth $148,957,000 after acquiring an additional 1,638,618 shares during the period. Jennison Associates LLC boosted its position in Permian Resources by 19.8% during the 4th quarter. Jennison Associates LLC now owns 9,159,252 shares of the company’s stock worth $131,710,000 after acquiring an additional 1,511,923 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in shares of Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock worth $74,811,000 after purchasing an additional 2,023,742 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, EVP John Charles Bell sold 2,804 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the completion of the sale, the executive vice president now directly owns 74,433 shares in the company, valued at approximately $1,044,294.99. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,446 shares of company stock valued at $269,731. Company insiders own 12.80% of the company’s stock.

Permian Resources Trading Down 1.3 %

Shares of PR opened at $13.79 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 1-year low of $11.84 and a 1-year high of $18.28. The stock has a market capitalization of $11.08 billion, a P/E ratio of 8.35, a P/E/G ratio of 4.05 and a beta of 4.30. The business’s 50-day moving average price is $14.30 and its 200 day moving average price is $14.33.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.35%. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PR shares. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research note on Wednesday, March 5th. Morgan Stanley began coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target on the stock. Truist Financial increased their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. dropped their target price on Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Citigroup lowered Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.31.

About Permian Resources

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.