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

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

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

Insider Activity at Permian Resources

In related news, CFO Guy M. Oliphint sold 4,150 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total transaction of $58,058.50. Following the transaction, the chief financial officer now owns 130,467 shares in the company, valued at $1,825,233.33. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Quinn bought 500,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the transaction, the director now directly owns 812,429 shares of the company’s stock, valued at $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. Insiders have sold a total of 18,446 shares of company stock worth $269,731 in the last three months. 12.80% of the stock is owned by company insiders.

Permian Resources Trading Down 1.2 %

Permian Resources stock opened at $13.94 on Friday. The firm has a 50-day moving average price of $14.18 and a two-hundred day moving average price of $14.34. Permian Resources Co. has a 52-week low of $11.84 and a 52-week high of $18.28. The firm has a market capitalization 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.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is 41.96%.

Wall Street Analysts Forecast Growth

PR has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Citigroup downgraded Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and upped their price objective for the company from $17.00 to $20.00 in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Williams Trading set a $19.00 price target on Permian Resources in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and an average target price of $19.31.

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.