Trexquant Investment LP Acquires 108,067 Shares of Permian Resources Co. (NYSE:PR)

Trexquant Investment LP boosted its holdings in shares of Permian Resources Co. (NYSE:PR) by 8.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,371,378 shares of the company’s stock after acquiring an additional 108,067 shares during the period. Trexquant Investment LP’s holdings in Permian Resources were worth $19,720,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PR. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Permian Resources by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company’s stock valued at $2,021,000 after purchasing an additional 662 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Permian Resources by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock valued at $2,540,000 after buying an additional 700 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after buying an additional 800 shares during the period. CIBC Asset Management Inc lifted its holdings in Permian Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company’s stock worth $226,000 after acquiring an additional 805 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in Permian Resources by 73.6% in the fourth 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 period. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

Shares of NYSE:PR opened at $13.84 on Tuesday. Permian Resources Co. has a 12-month low of $11.84 and a 12-month high of $18.28. The company’s 50 day moving average price is $14.10 and its two-hundred day moving average price is $14.37. The firm has a market cap of $11.12 billion, a PE ratio of 8.39, 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 company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.33%. Permian Resources’s dividend payout ratio is 41.96%.

Insider Activity at Permian Resources

In other news, Director William J. Quinn acquired 500,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the acquisition, the director now directly owns 812,429 shares in the company, valued at $10,618,447.03. The trade was a 160.04 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The shares were 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. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,446 shares of company stock valued at $269,731 over the last three months. 12.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on PR. JPMorgan Chase & Co. dropped their price target 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. Citigroup lowered shares of Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research report on Wednesday, March 5th. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $17.00 to $20.00 in a research report on Wednesday, March 5th. Finally, Truist Financial upped their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. 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.com, the company currently has a consensus 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.