Permian Resources Co. (NYSE:PR) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd trimmed its stake in shares of Permian Resources Co. (NYSE:PR) by 61.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,419 shares of the company’s stock after selling 223,472 shares during the period. WINTON GROUP Ltd’s holdings in Permian Resources were worth $2,005,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PR. Yaupon Capital Management LP grew its holdings in Permian Resources by 225.0% in the third quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock valued at $51,016,000 after purchasing an additional 2,595,137 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Permian Resources by 58.3% in 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. Perpetual Ltd purchased a new position in Permian Resources during the 4th quarter valued at about $27,104,000. Geode Capital Management LLC raised its position in Permian Resources by 17.6% during the third 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 last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Permian Resources by 19.8% in the fourth quarter. Jennison Associates LLC now owns 9,159,252 shares of the company’s stock valued at $131,710,000 after purchasing an additional 1,511,923 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PR. Citigroup downgraded Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley dropped their price objective on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and raised their price target for the stock from $17.00 to $20.00 in a research note on Wednesday, March 5th. Finally, Piper Sandler cut their price objective on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.31.

Permian Resources Trading Down 1.2 %

PR stock opened at $13.94 on Friday. Permian Resources Co. has a 52 week low of $11.84 and a 52 week high of $18.28. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 8.45, a PEG ratio of 4.05 and a beta of 4.30. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $14.18 and a 200-day simple moving average of $14.34.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio is currently 41.96%.

Insider Transactions at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction on Friday, January 3rd. The shares were 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 in the company, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William J. Quinn purchased 500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the transaction, the director now owns 812,429 shares in the company, valued at $10,618,447.03. This trade represents a 160.04 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 18,446 shares of company stock worth $269,731. 12.80% of the stock is currently owned by company insiders.

Permian Resources 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.