Marshall Wace LLP Cuts Position in Permian Resources Co. (NYSE:PR)

Marshall Wace LLP trimmed its position in Permian Resources Co. (NYSE:PR - Free Report) by 71.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 873,425 shares of the company's stock after selling 2,165,583 shares during the period. Marshall Wace LLP owned approximately 0.11% of Permian Resources worth $12,560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Securities Inc. lifted its stake in Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after acquiring an additional 852 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Permian Resources in the 4th quarter valued at $31,000. Global Retirement Partners LLC boosted its stake 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 worth $36,000 after buying an additional 1,232 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after acquiring an additional 2,305 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC acquired a new stake in shares of Permian Resources in the fourth quarter valued at about $41,000. Institutional investors own 91.84% of the company's stock.

Permian Resources Trading Up 0.5 %

Permian Resources stock traded up $0.06 during trading hours on Friday, hitting $12.26. The stock had a trading volume of 6,323,320 shares, compared to its average volume of 9,739,138. The business's 50 day simple moving average is $12.79 and its 200-day simple moving average is $14.03. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 7.43, a P/E/G ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a one year low of $10.01 and a one year high of $17.62. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.15 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.89%. Permian Resources's payout ratio is 41.96%.

Insider Buying and Selling at Permian Resources

In related news, EVP John Charles Bell sold 2,804 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the transaction, the executive vice president now directly owns 74,433 shares of the company's stock, valued at approximately $1,044,294.99. This represents a 3.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Quinn acquired 500,000 shares of Permian Resources stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the purchase, the director now directly 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 position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 9,685 shares of company stock worth $135,687. Insiders own 12.80% of the company's stock.

Analyst Upgrades and Downgrades

PR has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price objective on Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Morgan Stanley cut their target price 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. Truist Financial boosted their target price on Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research report on Wednesday, March 5th. Finally, Susquehanna decreased their price target on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.67.

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.