Barclays PLC Sells 149,103 Shares of Permian Resources Co. (NYSE:PR)

Barclays PLC lessened its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 18.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 640,844 shares of the company's stock after selling 149,103 shares during the period. Barclays PLC owned about 0.08% of Permian Resources worth $8,722,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in Permian Resources by 59.6% in the second quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company's stock worth $194,585,000 after acquiring an additional 4,497,184 shares during the period. Merewether Investment Management LP increased its position in Permian Resources by 148.1% in the second 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 in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Permian Resources by 16,359.8% in the second quarter. Point72 Asset Management L.P. now owns 3,473,023 shares of the company's stock worth $56,089,000 after buying an additional 3,451,923 shares during the period. Yaupon Capital Management LP raised its stake in shares of Permian Resources by 225.0% in the third quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company's stock worth $51,016,000 after buying an additional 2,595,137 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Permian Resources by 20.6% during the 2nd quarter. Renaissance Technologies LLC now owns 9,108,803 shares of the company's stock valued at $147,107,000 after buying an additional 1,555,884 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Wall Street Analysts Forecast Growth

PR has been the topic of a number of recent analyst reports. The Goldman Sachs Group began coverage on shares of Permian Resources in a research note on Monday, September 30th. They set a "buy" rating and a $19.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Permian Resources from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note on Thursday, September 12th. UBS Group cut their price target on Permian Resources from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Susquehanna lowered their price objective on Permian Resources from $16.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th. Finally, Truist Financial upped their price target on Permian Resources from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Two equities research 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's stock. According to MarketBeat, Permian Resources has a consensus rating of "Moderate Buy" and an average price target of $18.87.

Permian Resources Trading Down 3.2 %

Shares of NYSE:PR traded down $0.45 during trading on Wednesday, reaching $13.52. The company's stock had a trading volume of 7,674,467 shares, compared to its average volume of 9,863,312. The stock has a market capitalization of $10.86 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 0.88 and a beta of 4.35. Permian Resources Co. has a 12 month low of $12.59 and a 12 month high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm's 50 day simple moving average is $14.65 and its two-hundred day simple moving average is $14.79.

Permian Resources (NYSE:PR - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter in the previous year, the business earned $0.36 EPS. The company's quarterly revenue was up 60.3% on a year-over-year basis. On average, research analysts predict that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were paid a $0.15 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.44%. This is an increase from Permian Resources's previous quarterly dividend of $0.06. Permian Resources's dividend payout ratio is currently 36.36%.

Permian Resources Profile

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.