Permian Resources Co. (NYSE:PR) Shares Acquired by Xponance Inc.

Xponance Inc. boosted its position in Permian Resources Co. (NYSE:PR) by 11.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,769 shares of the company’s stock after purchasing an additional 7,873 shares during the quarter. Xponance Inc.’s holdings in Permian Resources were worth $1,191,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DRW Securities LLC bought a new position in shares of Permian Resources in the fourth quarter worth $1,904,000. Franklin Resources Inc. grew 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 buying an additional 149,851 shares in the last quarter. American International Group Inc. increased its stake in Permian Resources by 10.4% during the 1st quarter. American International Group Inc. now owns 830,432 shares of the company’s stock valued at $14,665,000 after buying an additional 78,146 shares during the period. Retirement Systems of Alabama raised its position in shares of Permian Resources by 22.4% during the 1st 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 in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Permian Resources by 69.7% in the 4th quarter. Vanguard Group Inc. now owns 48,315,321 shares of the company’s stock worth $657,088,000 after acquiring an additional 19,847,358 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PR has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $17.00 price objective on shares of Permian Resources in a research note on Wednesday, August 7th. Wolfe Research initiated coverage on Permian Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Susquehanna decreased their target price on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. 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 report on Wednesday, July 3rd. Finally, Citigroup cut their price target on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Insiders Place Their Bets

In other news, EVP John Charles Bell sold 4,821 shares of the company’s 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 approximately $1,075,911.41. The sale was disclosed in a 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 Permian Resources stock in a transaction on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at $855,288.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John Charles Bell sold 4,821 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 77,237 shares in the company, valued at $1,075,911.41. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.

Permian Resources Stock Performance

Permian Resources stock opened at $13.51 on Friday. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The firm’s 50 day simple moving average is $14.24 and its 200-day simple moving average is $15.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The company has a market cap of $10.84 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 0.81 and a beta of 4.33.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.25 billion for 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%. The company’s quarterly revenue was up 99.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. As a group, equities research analysts predict that Permian Resources Co. will post 1.53 EPS for the current year.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources’s dividend 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.