XTX Topco Ltd Acquires 133,190 Shares of Permian Resources Co. (NASDAQ:PR)

XTX Topco Ltd increased its stake in Permian Resources Co. (NASDAQ:PR - Free Report) by 723.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,610 shares of the company's stock after buying an additional 133,190 shares during the period. XTX Topco Ltd's holdings in Permian Resources were worth $2,449,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. YHB Investment Advisors Inc. bought a new stake in Permian Resources during the first quarter worth about $26,000. Rise Advisors LLC bought a new position in Permian Resources during the 1st quarter valued at approximately $32,000. Innealta Capital LLC bought a new position in Permian Resources during the 2nd quarter valued at approximately $30,000. Transcendent Capital Group LLC purchased a new position in Permian Resources during the first quarter valued at $36,000. Finally, Parallel Advisors LLC boosted its holdings in Permian Resources by 117.0% in the fourth quarter. Parallel Advisors LLC now owns 2,185 shares of the company's stock worth $30,000 after acquiring an additional 1,178 shares in the last quarter. Institutional investors own 91.84% of the company's stock.

Permian Resources Price Performance

Shares of PR traded up $0.16 during trading hours on Thursday, reaching $14.02. 11,973,782 shares of the stock traded hands, compared to its average volume of 9,949,498. Permian Resources Co. has a 52-week low of $12.34 and a 52-week high of $18.28. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The company has a market cap of $11.25 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.77 and a beta of 4.33. The company's 50-day moving average price is $14.61 and its two-hundred day moving average price is $15.86.

Permian Resources (NASDAQ:PR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The company had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the firm earned $0.27 EPS. The firm's revenue was up 99.9% compared to the same quarter last year. On average, analysts anticipate that Permian Resources Co. will post 1.57 earnings per share for the current year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a $0.06 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.71%. Permian Resources's dividend payout ratio is currently 21.82%.

Insider Buying and Selling

In other news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the transaction, the executive vice president now directly owns 77,237 shares in the company, valued at approximately $1,075,911.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at $855,288.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares of the company's stock, valued at approximately $1,075,911.41. The disclosure for this sale can be found here. 12.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. UBS Group decreased their target price on shares of Permian Resources from $19.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday. Wolfe Research began coverage on shares of Permian Resources in a report on Thursday, July 18th. They issued a "peer perform" rating for the company. Truist Financial increased their target price on Permian Resources from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Royal Bank of Canada restated an "outperform" rating and issued a $20.00 price target on shares of Permian Resources in a research note on Monday, August 12th. Finally, Benchmark reaffirmed a "buy" rating and set a $17.00 price objective on shares of Permian Resources in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $19.50.

About Permian Resources

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.