Bryce Point Capital LLC Takes $1.45 Million Position in Permian Resources Co. (NYSE:PR)

Bryce Point Capital LLC acquired a new stake in Permian Resources Co. (NYSE:PR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 101,120 shares of the company's stock, valued at approximately $1,454,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PR. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Permian Resources in the fourth quarter valued at $431,676,000. Yaupon Capital Management LP grew its stake in Permian Resources by 225.0% in the 3rd quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company's stock valued at $51,016,000 after buying an additional 2,595,137 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Permian Resources by 58.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company's stock valued at $74,811,000 after acquiring an additional 2,023,742 shares during the period. Perpetual Ltd acquired a new stake in Permian Resources during the fourth quarter worth approximately $27,104,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Permian Resources by 17.6% during the third quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company's stock worth $148,957,000 after acquiring an additional 1,638,618 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley dropped their price target on Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Citigroup downgraded shares of Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Bank of America dropped their price objective on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Truist Financial increased their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.13.

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Permian Resources Trading Down 1.4 %

PR traded down $0.15 during trading on Monday, reaching $10.60. 8,086,891 shares of the company's stock were exchanged, compared to its average volume of 8,694,917. 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 Co. has a one year low of $10.05 and a one year high of $18.28. The firm has a fifty day moving average price of $13.87 and a two-hundred day moving average price of $14.34. The stock has a market capitalization of $8.52 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81.

Permian Resources Dividend Announcement

The business 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 was Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 5.66%. Permian Resources's payout ratio is 41.96%.

Insider Transactions at Permian Resources

In related news, Director William J. Quinn acquired 500,000 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the transaction, the director now directly owns 812,429 shares in the company, valued at $10,618,447.03. This represents a 160.04 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the transaction, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,685 shares of company stock worth $135,687. Company insiders own 12.80% of the company's stock.

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.