EntryPoint Capital LLC Buys New Position in Permian Resources Co. (NYSE:PR)

EntryPoint Capital LLC bought a new position in shares of Permian Resources Co. (NYSE:PR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,489 shares of the company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kingsview Wealth Management LLC bought a new stake in shares of Permian Resources in the 4th quarter worth approximately $632,000. Wright Investors Service Inc. bought a new position in shares of Permian Resources in the fourth quarter valued at $498,000. Point72 Asset Management L.P. lifted its position in shares of Permian Resources by 58.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after acquiring an additional 2,023,742 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Permian Resources by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company’s stock worth $62,407,000 after acquiring an additional 176,320 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Permian Resources by 36.9% in the 4th quarter. New York State Teachers Retirement System now owns 269,905 shares of the company’s stock worth $3,881,000 after acquiring an additional 72,726 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insider Transactions at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Robert Regan Shannon sold 2,731 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the sale, the chief accounting officer now owns 58,668 shares of the company’s stock, valued at approximately $822,525.36. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,446 shares of company stock worth $269,731 in the last 90 days. 12.80% of the stock is owned by insiders.

Permian Resources Stock Down 1.6 %

Shares of Permian Resources stock opened at $13.73 on Friday. The stock has a 50-day simple moving average of $14.14 and a 200-day simple moving average of $14.35. Permian Resources Co. has a 52-week low of $11.84 and a 52-week high of $18.28. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 4.05 and a beta of 4.30. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.37%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio is 41.96%.

Analyst Upgrades and Downgrades

PR has been the subject of a number of recent analyst reports. Williams Trading set a $19.00 price target on Permian Resources in a research report on Wednesday, March 5th. Piper Sandler dropped their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Susquehanna upgraded shares of Permian Resources from a “neutral” rating to a “positive” rating and upped their price target for the company from $17.00 to $20.00 in a research report on Wednesday, March 5th. Truist Financial lifted their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Citigroup lowered Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.