Sapience Investments LLC Sells 13,655 Shares of Permian Resources Co. (NYSE:PR)

Sapience Investments LLC cut its stake in shares of Permian Resources Co. (NYSE:PR) by 23.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,988 shares of the company’s stock after selling 13,655 shares during the quarter. Sapience Investments LLC’s holdings in Permian Resources were worth $647,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. increased its stake in shares of Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after acquiring an additional 852 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after acquiring an additional 1,232 shares during the last quarter. Rakuten Securities Inc. increased its stake in Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after purchasing an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC bought a new stake in Permian Resources during the 4th quarter worth approximately $41,000. Finally, Lindbrook Capital LLC increased its stake in Permian Resources by 294.8% during the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after purchasing an additional 2,155 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Permian Resources from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup cut shares of Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Susquehanna decreased their price target on shares of Permian Resources from $20.00 to $19.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price target on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Morgan Stanley cut their price objective on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.33.

Insider Buying and Selling at Permian Resources

In related news, CAO Robert Regan Shannon sold 2,731 shares of the company’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 sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John Charles Bell sold 2,804 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the sale, the executive vice president now owns 74,433 shares in the company, valued at $1,044,294.99. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,685 shares of company stock worth $135,687 over the last 90 days. Insiders own 6.44% of the company’s stock.

Permian Resources Stock Down 0.4%

PR stock opened at $13.50 on Friday. 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 stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 4.05 and a beta of 1.20. The business’s fifty day moving average price is $12.58 and its two-hundred day moving average price is $13.90. Permian Resources Co. has a fifty-two week low of $10.01 and a fifty-two week high of $16.95.

Permian Resources (NYSE:PR) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that Permian Resources Co. will post 1.45 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources’s payout ratio is currently 37.04%.

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.