Permian Resources Co. (NYSE:PR) Stock Position Reduced by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 38.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,951 shares of the company's stock after selling 22,941 shares during the quarter. Fisher Asset Management LLC's holdings in Permian Resources were worth $531,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PR. Yaupon Capital Management LP boosted its stake in Permian Resources by 225.0% in the third quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company's stock valued at $51,016,000 after acquiring an additional 2,595,137 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of 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 worth $74,811,000 after purchasing an additional 2,023,742 shares during the last quarter. Perpetual Ltd acquired a new position in Permian Resources during the 4th quarter valued at approximately $27,104,000. Geode Capital Management LLC grew its stake in Permian Resources by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company's stock worth $148,957,000 after buying an additional 1,638,618 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Permian Resources by 9.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company's stock valued at $247,042,000 after acquiring an additional 1,543,854 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

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Permian Resources Price Performance

Shares of PR traded down $0.34 during mid-day trading on Monday, hitting $12.34. The company's stock had a trading volume of 13,281,286 shares, compared to its average volume of 8,604,098. 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 firm has a 50-day moving average price of $14.58 and a 200 day moving average price of $14.39. Permian Resources Co. has a fifty-two week low of $11.84 and a fifty-two week high of $18.28. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 4.05 and a beta of 4.30.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.86%. Permian Resources's dividend payout ratio (DPR) is 41.96%.

Insider Buying and Selling at Permian Resources

In related news, Director William J. Quinn acquired 500,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the acquisition, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy M. Oliphint sold 8,761 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares of the company's stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,446 shares of company stock valued at $269,731. Corporate insiders own 12.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Williams Trading set a $19.00 price objective on shares of Permian Resources in a report on Wednesday, March 5th. Truist Financial raised their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Morgan Stanley started coverage on Permian Resources in a research report on Friday, January 10th. They set an "overweight" rating and a $19.00 price objective for the company. Citigroup cut Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Susquehanna raised Permian Resources from a "neutral" rating to a "positive" rating and lifted their target price for the company from $17.00 to $20.00 in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.29.

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.