Permian Resources Co. (NYSE:PR) Position Boosted by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP increased its holdings in Permian Resources Co. (NYSE:PR) by 67.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,686 shares of the company’s stock after purchasing an additional 108,912 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Permian Resources were worth $3,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PR. Principal Securities Inc. boosted its position in shares of Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of Permian Resources in the fourth quarter worth about $31,000. Global Retirement Partners LLC increased its position in shares of Permian Resources by 98.4% in the fourth 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 in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after acquiring an additional 2,305 shares during the period. Finally, Lindbrook Capital LLC lifted its position in shares of Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after acquiring an additional 2,155 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PR has been the topic of several recent analyst reports. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and boosted their target price for the company from $17.00 to $20.00 in a research note on Wednesday, March 5th. Piper Sandler dropped their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Morgan Stanley decreased 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, March 27th. Bank of America dropped their target price on Permian Resources from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Finally, Williams Trading set a $19.00 price target on shares of Permian Resources in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.13.

Permian Resources Price Performance

Shares of NYSE:PR opened at $10.74 on Monday. The stock has a market capitalization of $8.63 billion, a P/E ratio of 6.51, a P/E/G ratio of 4.05 and a beta of 3.81. The business has a 50-day moving average of $13.87 and a two-hundred day moving average of $14.34. Permian Resources Co. has a fifty-two week low of $10.42 and a fifty-two week high of $18.28. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.15 per share. The ex-dividend date was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 5.59%. Permian Resources’s payout ratio is currently 41.96%.

Insider Buying and Selling at Permian Resources

In other news, CAO Robert Regan Shannon sold 2,731 shares of the firm’s 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 sale, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at approximately $822,525.36. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William J. Quinn bought 500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 9,685 shares of company stock worth $135,687 over the last 90 days. Insiders own 12.80% of the company’s stock.

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.