71,279 Shares in Permian Resources Co. (NYSE:PR) Purchased by Sharpepoint LLC

by · The Markets Daily

Sharpepoint LLC acquired a new stake in shares of Permian Resources Co. (NYSE:PR – Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 71,279 shares of the company’s stock, valued at approximately $1,025,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Permian Resources by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company’s stock worth $944,487,000 after acquiring an additional 870,622 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Permian Resources during the fourth quarter valued at approximately $431,676,000. Massachusetts Financial Services Co. MA boosted its position in shares of Permian Resources by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company’s stock worth $265,209,000 after purchasing an additional 291,444 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Permian Resources by 7.2% in the 4th quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company’s stock worth $196,025,000 after buying an additional 909,740 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Permian Resources by 55.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company’s stock valued at $169,864,000 after buying an additional 4,236,141 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Up 4.7 %

Shares of Permian Resources stock opened at $12.04 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $9.67 billion, a PE ratio of 7.29, a P/E/G ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 1-year low of $10.01 and a 1-year high of $17.62. The company’s fifty day simple moving average is $13.02 and its 200-day simple moving average is $14.12.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

Insider Activity

In other Permian Resources news, Director William J. Quinn bought 500,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 812,429 shares of the company’s stock, valued at $10,618,447.03. This trade represents a 160.04 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Charles Bell sold 2,804 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the transaction, the executive vice president now owns 74,433 shares of the company’s stock, valued at $1,044,294.99. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,685 shares of company stock valued at $135,687 in the last ninety days. Corporate insiders own 12.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PR shares. Royal Bank of Canada dropped their target price on Permian Resources from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Williams Trading set a $19.00 price target on shares of Permian Resources in a research note on Wednesday, March 5th. Morgan Stanley reduced their price objective on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Citigroup downgraded shares of Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Finally, Bank of America decreased their price objective on shares of Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Permian Resources has a consensus rating of “Moderate Buy” and a consensus target price of $18.73.

Get Our Latest Report on PR

Permian Resources Company Profile

(Free Report)

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.

Featured Stories