Barrow Hanley Mewhinney & Strauss LLC Makes New $431.68 Million Investment in Permian Resources Co. (NYSE:PR)

Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Permian Resources Co. (NYSE:PR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,019,205 shares of the company's stock, valued at approximately $431,676,000. Permian Resources accounts for 1.5% of Barrow Hanley Mewhinney & Strauss LLC's holdings, making the stock its 25th largest position. Barrow Hanley Mewhinney & Strauss LLC owned about 3.74% of Permian Resources at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PR. Kingsview Wealth Management LLC purchased a new stake in Permian Resources during the 4th quarter valued at $632,000. Wright Investors Service Inc. purchased a new stake in shares of Permian Resources during the fourth quarter worth about $498,000. Point72 Asset Management L.P. boosted its holdings in shares of Permian Resources by 58.3% during the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company's stock worth $74,811,000 after purchasing an additional 2,023,742 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Permian Resources by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company's stock worth $62,407,000 after purchasing an additional 176,320 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in Permian Resources by 36.9% during the 4th quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock valued at $3,881,000 after purchasing an additional 72,726 shares during the period. 91.84% of the stock is owned by institutional investors.

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Insider Buying and Selling

In related news, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now owns 134,617 shares in the company, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,446 shares of company stock valued at $269,731 over the last 90 days. Company insiders own 12.80% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Piper Sandler cut their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Bank of America cut their price target on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday. Truist Financial upped their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Susquehanna raised shares of Permian Resources from a "neutral" rating to a "positive" rating and raised their target price for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price target on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Permian Resources presently has an average rating of "Moderate Buy" and a consensus price target of $19.13.

Permian Resources Stock Down 12.3 %

PR stock traded down $1.74 during midday trading on Thursday, hitting $12.44. The company's stock had a trading volume of 5,003,375 shares, compared to its average volume of 9,423,004. The company has a market cap of $10.00 billion, a PE ratio of 7.54, a P/E/G ratio of 4.05 and a beta of 4.30. The firm's 50-day moving average is $14.03 and its 200-day moving average is $14.37. Permian Resources Co. has a 12 month low of $11.84 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.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.82%. Permian Resources's dividend payout ratio (DPR) is currently 41.96%.

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.