Hartree Partners LP Lowers Stake in Permian Resources Co. (NYSE:PR)

Hartree Partners LP reduced its position in Permian Resources Co. (NYSE:PR - Free Report) by 40.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 303,800 shares of the company's stock after selling 203,200 shares during the quarter. Permian Resources makes up about 1.6% of Hartree Partners LP's holdings, making the stock its 20th largest position. Hartree Partners LP's holdings in Permian Resources were worth $4,369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PR. Principal Securities Inc. boosted its holdings in shares of Permian Resources by 73.6% in 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 during the period. ORG Wealth Partners LLC purchased a new position in Permian Resources during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC grew its position in shares of 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 purchasing an additional 1,232 shares in the last quarter. Rakuten Securities Inc. raised its position 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 worth $36,000 after buying an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock worth $42,000 after acquiring an additional 2,155 shares during the last quarter. Institutional investors own 91.84% of the company's stock.

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Insider Buying and Selling

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at $822,525.36. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the transaction, the chief financial officer now owns 134,617 shares of the company's stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,446 shares of company stock worth $269,731. 12.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PR shares. Susquehanna raised shares of Permian Resources from a "neutral" rating to a "positive" rating and boosted their price target for the stock from $17.00 to $20.00 in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Citigroup cut shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research note on Wednesday, March 5th. Finally, Truist Financial upped their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.13.

Permian Resources Stock Performance

Shares of Permian Resources stock traded down $1.64 during trading on Thursday, hitting $12.54. 5,396,630 shares of the company's stock traded hands, compared to its average volume of 8,406,890. 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 stock has a market capitalization of $10.08 billion, a P/E ratio of 7.60, a PEG ratio of 4.05 and a beta of 4.30. The business has a 50-day simple moving average of $14.03 and a 200-day simple moving average of $14.37. Permian Resources Co. has a 1 year low of $11.84 and a 1 year high of $18.28.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued 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 4.78%. Permian Resources's payout ratio is 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.