Rafferty Asset Management LLC Trims Stock Position in Permian Resources Corporation $PR

04 Mar 2026, 11:06 by Mitch Edgeman · The Markets Daily

Rafferty Asset Management LLC trimmed its holdings in Permian Resources Corporation (NYSE:PR – Free Report) by 18.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 319,000 shares of the company’s stock after selling 74,577 shares during the period. Rafferty Asset Management LLC’s holdings in Permian Resources were worth $4,083,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PR. Bank of New York Mellon Corp increased its stake in shares of Permian Resources by 86.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 23,963,307 shares of the company’s stock valued at $326,380,000 after acquiring an additional 11,133,354 shares during the last quarter. Boston Partners purchased a new stake in Permian Resources in the second quarter valued at approximately $134,119,000. Vanguard Group Inc. grew its holdings in Permian Resources by 10.4% in the third quarter. Vanguard Group Inc. now owns 71,463,525 shares of the company’s stock valued at $914,733,000 after purchasing an additional 6,705,644 shares during the period. Holocene Advisors LP acquired a new position in Permian Resources during the second quarter worth approximately $42,606,000. Finally, American Century Companies Inc. raised its stake in Permian Resources by 20.3% during the second quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock worth $150,409,000 after purchasing an additional 1,863,632 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Down 2.4%

NYSE:PR opened at $18.34 on Wednesday. The business’s 50-day moving average is $15.70 and its two-hundred day moving average is $14.28. The firm has a market capitalization of $15.21 billion, a PE ratio of 14.67 and a beta of 0.66. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $19.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.78 and a quick ratio of 0.78.

Permian Resources (NYSE:PR – Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. Permian Resources had a return on equity of 10.83% and a net margin of 18.46%.The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. Research analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.5%. This is a positive change from Permian Resources’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, March 17th. Permian Resources’s dividend payout ratio is 48.00%.

Insider Activity at Permian Resources

In other news, EVP John Charles Bell sold 106,399 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $1,450,218.37. Following the transaction, the executive vice president directly owned 376,442 shares of the company’s stock, valued at approximately $5,130,904.46. The trade was a 22.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William M. Hickey III sold 467,725 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $6,375,091.75. Following the sale, the chief executive officer directly owned 1,010,136 shares of the company’s stock, valued at approximately $13,768,153.68. The trade was a 31.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,210,456 shares of company stock valued at $30,231,728. 12.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PR has been the topic of a number of research analyst reports. UBS Group lifted their price target on shares of Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, December 12th. Susquehanna cut their target price on Permian Resources from $20.00 to $18.00 and set a “positive” rating on the stock in a research report on Monday, January 26th. Bank of America reissued a “neutral” rating and set a $16.00 price target (down from $17.00) on shares of Permian Resources in a research report on Friday, January 16th. TD Cowen upgraded Permian Resources to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Royal Bank Of Canada raised their price objective on Permian Resources from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.92.

Get Our Latest Stock Analysis on Permian Resources

Permian Resources Profile

(Free Report)

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.