XTX Topco Ltd Acquires 133,190 Shares of Permian Resources Co. (NASDAQ:PR)

XTX Topco Ltd lifted its stake in Permian Resources Co. (NASDAQ:PR) by 723.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,610 shares of the company’s stock after buying an additional 133,190 shares during the period. XTX Topco Ltd’s holdings in Permian Resources were worth $2,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PR. DRW Securities LLC acquired a new position in Permian Resources in the fourth quarter valued at about $1,904,000. Franklin Resources Inc. increased its position in Permian Resources by 74.2% in the 4th quarter. Franklin Resources Inc. now owns 351,681 shares of the company’s stock valued at $4,783,000 after acquiring an additional 149,851 shares in the last quarter. American International Group Inc. raised its position in shares of Permian Resources by 10.4% during the first quarter. American International Group Inc. now owns 830,432 shares of the company’s stock worth $14,665,000 after acquiring an additional 78,146 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Permian Resources by 22.4% during the first quarter. Retirement Systems of Alabama now owns 577,336 shares of the company’s stock worth $10,196,000 after buying an additional 105,565 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Permian Resources by 69.7% in the fourth quarter. Vanguard Group Inc. now owns 48,315,321 shares of the company’s stock valued at $657,088,000 after buying an additional 19,847,358 shares during the period. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

NASDAQ PR opened at $13.86 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 12-month low of $12.34 and a 12-month high of $18.28. The firm has a 50-day moving average price of $14.66 and a two-hundred day moving average price of $15.87. The company has a market capitalization of $10.67 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.71 and a beta of 4.33.

Permian Resources (NASDAQ:PR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The company’s revenue was up 99.9% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. Analysts anticipate that Permian Resources Co. will post 1.63 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.73%. Permian Resources’s payout ratio is 21.82%.

Insiders Place Their Bets

In related news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the transaction, the executive vice president now owns 77,237 shares in the company, valued at $1,075,911.41. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now owns 61,399 shares in the company, valued at $855,288.07. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Bank of America restated a “buy” rating and set a $20.00 target price on shares of Permian Resources in a report on Friday, June 14th. Susquehanna dropped their price objective on shares of Permian Resources from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price target on shares of Permian Resources in a report on Monday, August 12th. JPMorgan Chase & Co. reduced their price objective on Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Finally, BMO Capital Markets raised Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Permian Resources has an average rating of “Moderate Buy” and a consensus price target of $19.50.

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.