Permian Resources Co. (NYSE:PR) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group trimmed its holdings in shares of Permian Resources Co. (NYSE:PR) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,064,193 shares of the company’s stock after selling 244,706 shares during the period. Schroder Investment Management Group owned about 0.38% of Permian Resources worth $43,328,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PR. Principal Securities Inc. boosted its holdings in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after buying an additional 852 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Permian Resources during the 4th quarter worth approximately $31,000. Global Retirement Partners LLC grew its holdings 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 worth $36,000 after acquiring an additional 1,232 shares during the period. Rakuten Securities Inc. increased its stake in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after purchasing an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after purchasing an additional 2,155 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Stock Performance

NYSE PR opened at $13.80 on Wednesday. The business’s 50-day moving average price is $14.06 and its 200 day moving average price is $14.37. 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 Co. has a twelve month low of $11.84 and a twelve month high of $18.28. The company has a market capitalization of $11.08 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.15 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.35%. Permian Resources’s dividend payout ratio is presently 41.96%.

Insider Activity at Permian Resources

In other news, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at $822,525.36. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William J. Quinn bought 500,000 shares of the company’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 transaction, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 18,446 shares of company stock worth $269,731. 12.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PR shares. Morgan Stanley lowered their target price on Permian Resources from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Citigroup downgraded shares of Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Bank of America reduced their price target on shares of Permian Resources from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective 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, Truist Financial upped their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.13.

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.