Renaissance Technologies LLC decreased its position in shares of Permian Resources Corporation (NYSE:PR – Free Report) by 32.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,834,037 shares of the company’s stock after selling 3,835,411 shares during the period. Renaissance Technologies LLC’s holdings in Permian Resources were worth $167,022,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in PR. Vanguard Group Inc. increased its position in shares of Permian Resources by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company’s stock worth $1,057,930,000 after acquiring an additional 3,941,318 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Permian Resources by 16.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company’s stock worth $443,856,000 after acquiring an additional 4,533,732 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Permian Resources by 115.5% in the fourth 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 last quarter. State Street Corp boosted its holdings in Permian Resources by 2.0% in the fourth 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 grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.
Permian Resources Stock Down 0.1%
Shares of Permian Resources stock opened at $21.34 on Friday. The business has a 50-day moving average price of $19.51 and a 200 day moving average price of $18.77. Permian Resources Corporation has a fifty-two week low of $11.92 and a fifty-two week high of $22.67. The firm has a market cap of $17.87 billion, a P/E ratio of 24.82 and a beta of 0.46. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31.
Permian Resources Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.0%. Permian Resources’s dividend payout ratio (DPR) is 74.42%.
Insider Transactions at Permian Resources
In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of Permian Resources stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the transaction, the executive vice president owned 542,503 shares of the company’s stock, valued at $11,088,761.32. The trade was a 10.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.00% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on PR shares. Zacks Research downgraded Permian Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. KeyCorp started coverage on shares of Permian Resources in a research report on Tuesday, April 7th. They set an “overweight” rating and a $25.00 price target for the company. BMO Capital Markets upgraded shares of Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Citigroup cut their price target on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Finally, UBS Group reduced their price objective on shares of Permian Resources from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $23.29.
Read Our Latest Research Report on Permian Resources
Permian Resources 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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