SG Americas Securities LLC Sells 238,367 Shares of Permian Resources Co. (NYSE:PR)

SG Americas Securities LLC trimmed its holdings in shares of Permian Resources Co. (NYSE:PR) by 84.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,851 shares of the company’s stock after selling 238,367 shares during the quarter. SG Americas Securities LLC’s holdings in Permian Resources were worth $583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of 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. Price T Rowe Associates Inc. MD increased its position in Permian Resources by 480.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,054,560 shares of the company’s stock worth $106,924,000 after purchasing an additional 5,012,287 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Permian Resources by 59.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company’s stock valued at $194,585,000 after purchasing an additional 4,497,184 shares during the period. Merewether Investment Management LP grew its position in shares of Permian Resources by 148.1% during the 2nd quarter. Merewether Investment Management LP now owns 5,900,449 shares of the company’s stock worth $95,292,000 after buying an additional 3,522,300 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Permian Resources by 16,359.8% during the second quarter. Point72 Asset Management L.P. now owns 3,473,023 shares of the company’s stock valued at $56,089,000 after purchasing an additional 3,451,923 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PR shares. Benchmark reaffirmed a “buy” rating and issued a $17.00 price target on shares of Permian Resources in a research note on Wednesday, August 7th. Mizuho dropped their price objective on Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Wolfe Research started coverage on Permian Resources in a report on Thursday, July 18th. They set a “peer perform” rating for the company. The Goldman Sachs Group started coverage on Permian Resources in a research note on Monday, September 30th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Insider Transactions at Permian Resources

In other news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction 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 sale, the executive vice president now owns 77,237 shares in the company, valued at $1,075,911.41. This represents a 0.00 % 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. In related news, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the completion of the transaction, the chief accounting officer now directly owns 61,399 shares of the company’s stock, valued at approximately $855,288.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the transaction, the executive vice president now directly owns 77,237 shares in the company, valued at $1,075,911.41. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.

Permian Resources Stock Down 2.0 %

Permian Resources stock opened at $14.23 on Tuesday. The stock has a fifty day simple moving average of $14.08 and a two-hundred day simple moving average of $15.55. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm has a market cap of $10.95 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.85 and a beta of 4.32. Permian Resources Co. has a 12 month low of $12.34 and a 12 month high of $18.28.

Permian Resources (NYSE:PR) last posted its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. Permian Resources’s quarterly revenue was up 99.9% on a year-over-year basis. During the same period last year, the company posted $0.27 earnings per share. Equities analysts predict that Permian Resources Co. will post 1.49 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.69%. Permian Resources’s payout ratio is currently 21.82%.

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.