SG Americas Securities LLC reduced its position in Permian Resources Corporation (NYSE:PR – Free Report) by 48.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 192,765 shares of the company’s stock after selling 179,063 shares during the period. SG Americas Securities LLC’s holdings in Permian Resources were worth $4,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Permian Resources by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company’s stock valued at $1,057,930,000 after acquiring an additional 3,941,318 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Permian Resources by 16.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock valued at $443,856,000 after purchasing an additional 4,533,732 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Permian Resources by 115.5% during the 4th quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company’s stock valued at $352,906,000 after purchasing an additional 13,483,136 shares during the period. State Street Corp increased its position in shares of Permian Resources by 2.0% during the 4th quarter. State Street Corp now owns 23,553,393 shares of the company’s stock valued at $330,454,000 after purchasing an additional 460,158 shares during the last quarter. Finally, Boston Partners increased its position in shares of Permian Resources by 76.2% during the 3rd quarter. Boston Partners now owns 17,350,663 shares of the company’s stock valued at $222,099,000 after purchasing an additional 7,503,654 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.
Permian Resources Price Performance
NYSE PR opened at $18.50 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31. Permian Resources Corporation has a 12 month low of $11.92 and a 12 month high of $22.67. The stock has a market cap of $15.49 billion, a price-to-earnings ratio of 21.51 and a beta of 0.48. The company’s 50 day moving average is $19.89 and its two-hundred day moving average is $18.08.
Permian Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, June 16th. Permian Resources’s dividend payout ratio is presently 74.42%.
Insider Transactions at Permian Resources
In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the sale, the executive vice president directly owned 542,503 shares of the company’s stock, valued at $11,088,761.32. This trade represents a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.00% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on PR shares. Piper Sandler raised their price objective on shares of Permian Resources from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Benchmark downgraded shares of Permian Resources from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Evercore began coverage on shares of Permian Resources in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $25.00 price target on the stock. Mizuho boosted their price objective on shares of Permian Resources from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, Roth Mkm set a $23.00 target price on Permian Resources and gave the stock a “buy” rating in a report on Monday, June 22nd. Four research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $23.53.
View Our Latest Report on Permian Resources
Permian Resources Company Profile
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.
Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.
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