ExodusPoint Capital Management LP Raises Position in Permian Resources Co. (NYSE:PR)

ExodusPoint Capital Management LP boosted its position in Permian Resources Co. (NYSE:PR - Free Report) by 67.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 270,686 shares of the company's stock after acquiring an additional 108,912 shares during the period. ExodusPoint Capital Management LP's holdings in Permian Resources were worth $3,892,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. increased its position in shares of Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after acquiring an additional 852 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Permian Resources during the 4th quarter valued at $31,000. Global Retirement Partners LLC lifted its stake in Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after acquiring an additional 1,232 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Permian Resources by 1,152.5% in the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after purchasing an additional 2,305 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after purchasing an additional 2,155 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PR. JPMorgan Chase & Co. reduced their price objective 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. Piper Sandler reduced their target price on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Susquehanna raised Permian Resources from a "neutral" rating to a "positive" rating and increased their price target for the company from $17.00 to $20.00 in a research report on Wednesday, March 5th. Citigroup cut Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Williams Trading set a $19.00 price objective on Permian Resources in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Permian Resources presently has a consensus rating of "Moderate Buy" and an average price target of $18.80.

Insiders Place Their Bets

In other Permian Resources news, CFO Guy M. Oliphint sold 4,150 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.99, for a total transaction of $58,058.50. Following the completion of the transaction, the chief financial officer now owns 130,467 shares of the company's stock, valued at $1,825,233.33. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Quinn purchased 500,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the transaction, the director now owns 812,429 shares of the company's stock, valued at approximately $10,618,447.03. This trade represents a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 9,685 shares of company stock worth $135,687 over the last 90 days. Corporate insiders own 12.80% of the company's stock.

Permian Resources Stock Performance

Shares of PR traded up $0.49 during trading hours on Friday, hitting $11.05. The company's stock had a trading volume of 9,461,958 shares, compared to its average volume of 9,620,296. The business has a 50 day simple moving average of $13.33 and a two-hundred day simple moving average of $14.19. Permian Resources Co. has a 52-week low of $10.01 and a 52-week high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 4.05 and a beta of 3.81.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 5.43%. Permian Resources's dividend payout ratio is currently 41.96%.

Permian Resources Company 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.