Capital Fund Management S.A. Boosts Stake in Permian Resources Co. (NYSE:PR)

Capital Fund Management S.A. grew its stake in shares of Permian Resources Co. (NYSE:PR) by 456.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,804 shares of the company’s stock after buying an additional 99,904 shares during the period. Capital Fund Management S.A.’s holdings in Permian Resources were worth $1,752,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Kingsview Wealth Management LLC acquired a new stake in Permian Resources during the fourth quarter worth approximately $632,000. Wright Investors Service Inc. purchased a new position in shares of Permian Resources during the 4th quarter worth $498,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Permian Resources by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company’s stock worth $62,407,000 after purchasing an additional 176,320 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Permian Resources by 36.9% in the fourth quarter. New York State Teachers Retirement System now owns 269,905 shares of the company’s stock valued at $3,881,000 after purchasing an additional 72,726 shares during the period. Finally, Perpetual Ltd acquired a new position in Permian Resources in the fourth quarter valued at $27,104,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the sale, the chief accounting officer now 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 filing with the SEC, which is accessible through the SEC website. Also, Director William J. Quinn acquired 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, for a total transaction 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. This represents a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 9,685 shares of company stock valued at $135,687. Corporate insiders own 12.80% of the company’s stock.

Permian Resources Stock Up 0.1 %

Shares of NYSE PR opened at $11.02 on Wednesday. The stock has a fifty day moving average price of $13.20 and a 200 day moving average price of $14.16. The company has a market cap of $8.85 billion, a P/E ratio of 6.68, a P/E/G ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $17.84. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 5.45%. Permian Resources’s payout ratio is currently 41.96%.

Analyst Ratings Changes

Several analysts have commented on PR shares. Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and lifted their price target for the company from $17.00 to $20.00 in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada dropped their price target on shares of Permian Resources from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday. Citigroup lowered shares of Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Finally, Truist Financial upped their price objective on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and an average price target of $18.73.

About Permian Resources

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.