Trexquant Investment LP Has $19.72 Million Holdings in Permian Resources Co. (NYSE:PR)

Trexquant Investment LP boosted its position in shares of Permian Resources Co. (NYSE:PR) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,371,378 shares of the company’s stock after acquiring an additional 108,067 shares during the period. Trexquant Investment LP owned 0.17% of Permian Resources worth $19,720,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PR. Geode Capital Management LLC lifted its position in shares of Permian Resources by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 11,110,824 shares of the company’s stock worth $159,823,000 after purchasing an additional 168,887 shares during the last quarter. HighPoint Advisor Group LLC increased its position in Permian Resources by 30.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 19,418 shares of the company’s stock worth $291,000 after buying an additional 4,478 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Permian Resources by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 1,423,695 shares of the company’s stock worth $20,473,000 after buying an additional 62,886 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Permian Resources by 1,435.0% in the fourth quarter. Wellington Management Group LLP now owns 650,900 shares of the company’s stock valued at $9,360,000 after acquiring an additional 608,496 shares during the period. Finally, SCP Investment LP grew its stake in shares of Permian Resources by 315.4% in the fourth quarter. SCP Investment LP now owns 118,800 shares of the company’s stock worth $1,708,000 after acquiring an additional 90,200 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PR has been the subject of a number of research reports. Truist Financial increased 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. reduced their target price 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. Morgan Stanley lowered their price target on Permian Resources from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Williams Trading set a $19.00 price target on Permian Resources in a report on Wednesday, March 5th. Finally, Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $17.00 to $20.00 in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.31.

Insider Transactions at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $38,288.62. Following the completion of the transaction, the chief accounting officer now owns 58,668 shares of the company’s stock, valued at $822,525.36. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,446 shares of company stock worth $269,731. Insiders own 12.80% of the company’s stock.

Permian Resources Stock Up 0.7 %

Shares of PR opened at $13.84 on Tuesday. The company has a market capitalization of $11.12 billion, a P/E ratio of 8.39, a PEG ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a one year low of $11.84 and a one year high of $18.28. The business’s 50 day simple moving average is $14.10 and its 200-day simple moving average is $14.37. 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 disclosed 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 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Monday, March 17th. Permian Resources’s dividend payout ratio is currently 41.96%.

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.