Permian Resources Co. (NYSE:PR) Shares Purchased by Capital Fund Management S.A.

Capital Fund Management S.A. increased its stake in Permian Resources Co. (NYSE:PR - Free Report) by 456.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 121,804 shares of the company's stock after buying an additional 99,904 shares during the period. Capital Fund Management S.A.'s holdings in Permian Resources were worth $1,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Permian Resources by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company's stock valued at $944,487,000 after purchasing an additional 870,622 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Permian Resources during the 4th quarter valued at $431,676,000. Massachusetts Financial Services Co. MA lifted its position in shares of Permian Resources by 1.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company's stock valued at $265,209,000 after acquiring an additional 291,444 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Permian Resources by 7.2% in the 4th quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company's stock worth $196,025,000 after purchasing an additional 909,740 shares during the period. Finally, American Century Companies Inc. grew its stake in Permian Resources by 1.6% during the fourth quarter. American Century Companies Inc. now owns 11,299,054 shares of the company's stock valued at $162,480,000 after acquiring an additional 172,856 shares in the last quarter. Institutional investors own 91.84% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PR. Bank of America decreased their price objective on Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Morgan Stanley dropped their price objective on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Piper Sandler reduced their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Susquehanna upgraded shares of Permian Resources from a "neutral" rating to a "positive" rating and upped their price target for the company from $17.00 to $20.00 in a report on Wednesday, March 5th. Finally, Royal Bank of Canada decreased their target price on Permian Resources from $18.00 to $16.00 and set an "outperform" rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Permian Resources presently has a consensus rating of "Moderate Buy" and an average price target of $18.73.

Permian Resources Price Performance

Shares of PR stock traded up $0.54 during trading hours on Friday, hitting $12.04. 13,331,521 shares of the company's stock were exchanged, compared to its average volume of 9,686,800. The firm has a 50 day moving average of $13.02 and a two-hundred day moving average of $14.12. Permian Resources Co. has a fifty-two week low of $10.01 and a fifty-two week high of $17.62. The firm has a market cap of $9.67 billion, a P/E ratio of 7.29, a P/E/G ratio of 4.05 and a beta of 3.81. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.15 per share. The ex-dividend date was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.99%. Permian Resources's payout ratio is presently 41.96%.

Insider Transactions at Permian Resources

In other news, CAO Robert Regan Shannon sold 2,731 shares of the company'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 value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William J. Quinn bought 500,000 shares of the company's stock in a transaction that occurred on 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 acquisition, the director now directly owns 812,429 shares in the company, valued at $10,618,447.03. The trade was a 160.04 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 9,685 shares of company stock worth $135,687 in the last ninety days. Insiders own 12.80% of the company's stock.

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.