XTX Topco Ltd Purchases 150,113 Shares of Permian Resources Co. (NYSE:PR)

XTX Topco Ltd raised its position in Permian Resources Co. (NYSE:PR) by 502.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,965 shares of the company’s stock after acquiring an additional 150,113 shares during the period. XTX Topco Ltd’s holdings in Permian Resources were worth $2,588,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Kingsview Wealth Management LLC acquired a new stake in Permian Resources during the fourth quarter worth $632,000. Wright Investors Service Inc. acquired a new stake in shares of Permian Resources during the 4th quarter valued at about $498,000. Charles Schwab Investment Management Inc. increased its stake in Permian Resources by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company’s stock valued at $62,407,000 after acquiring an additional 176,320 shares during the period. New York State Teachers Retirement System raised its position in Permian Resources by 36.9% in the fourth quarter. New York State Teachers Retirement System now owns 269,905 shares of the company’s stock worth $3,881,000 after purchasing an additional 72,726 shares in the last quarter. Finally, Perpetual Ltd bought a new position in Permian Resources during the fourth quarter worth about $27,104,000. Institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

PR has been the subject of several analyst reports. Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and raised their target price for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Piper Sandler lowered their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Truist Financial lifted their price target 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. decreased their price objective on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Williams Trading set a $19.00 target price on shares of Permian Resources in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Insiders Place Their Bets

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William J. Quinn purchased 500,000 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 812,429 shares of the company’s stock, valued at approximately $10,618,447.03. This trade represents a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 9,685 shares of company stock worth $135,687. Company insiders own 12.80% of the company’s stock.

Permian Resources Trading Up 4.6 %

NYSE PR opened at $11.05 on Monday. The company has a market capitalization of $8.87 billion, a PE ratio of 6.69, a P/E/G ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 12 month low of $10.01 and a 12 month high of $18.06. The stock has a 50-day simple moving average of $13.33 and a 200 day simple moving average of $14.20. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources’s payout ratio is presently 41.96%.

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.