Hartree Partners LP Sells 203,200 Shares of Permian Resources Co. (NYSE:PR)

Hartree Partners LP reduced its position in Permian Resources Co. (NYSE:PR) by 40.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 303,800 shares of the company’s stock after selling 203,200 shares during the quarter. Permian Resources makes up about 1.6% of Hartree Partners LP’s portfolio, making the stock its 20th largest position. Hartree Partners LP’s holdings in Permian Resources were worth $4,369,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Permian Resources by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,163,553 shares of the company’s stock worth $56,666,000 after buying an additional 457,478 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Permian Resources by 20.9% in the third quarter. The Manufacturers Life Insurance Company now owns 579,375 shares of the company’s stock worth $7,885,000 after purchasing an additional 100,056 shares during the period. Townsquare Capital LLC bought a new stake in Permian Resources in the third quarter valued at $257,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Permian Resources by 147.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 525,700 shares of the company’s stock worth $7,155,000 after purchasing an additional 313,400 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Permian Resources by 20.1% in the 3rd quarter. MetLife Investment Management LLC now owns 334,684 shares of the company’s stock valued at $4,555,000 after buying an additional 55,980 shares during the period. Institutional investors own 91.84% of the company’s stock.

Insider Transactions at Permian Resources

In other Permian Resources news, Director William J. Quinn bought 500,000 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the acquisition, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. This trade represents a 160.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,446 shares of company stock valued at $269,731 in the last quarter. Insiders own 12.80% of the company’s stock.

Permian Resources Stock Down 1.6 %

Shares of NYSE:PR opened at $13.73 on Friday. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 8.32, a PEG 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. The firm has a fifty day moving average price of $14.14 and a two-hundred day moving average price of $14.36. Permian Resources Co. has a one year low of $11.84 and a one year high of $18.28.

Permian Resources Dividend Announcement

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

Wall Street Analysts Forecast Growth

PR has been the topic of several recent research reports. Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and increased their price target for the stock from $17.00 to $20.00 in a report on Wednesday, March 5th. Citigroup downgraded shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Morgan Stanley lowered their price objective on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday. Williams Trading set a $19.00 price objective on shares of Permian Resources in a report on Wednesday, March 5th. Finally, Truist Financial upped their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.31.

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.