Caxton Associates LP Makes New $2.78 Million Investment in Permian Resources Co. (NASDAQ:PR)

Caxton Associates LP purchased a new stake in Permian Resources Co. (NASDAQ:PR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 172,132 shares of the company's stock, valued at approximately $2,780,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PR. D.A. Davidson & CO. bought a new stake in Permian Resources during the 4th quarter worth $136,000. Franklin Resources Inc. grew its holdings in shares of Permian Resources by 74.2% during the fourth quarter. Franklin Resources Inc. now owns 351,681 shares of the company's stock worth $4,783,000 after purchasing an additional 149,851 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Permian Resources by 113.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 134,246 shares of the company's stock valued at $1,802,000 after buying an additional 71,430 shares during the period. Cape Investment Advisory Inc. bought a new position in Permian Resources in the 4th quarter valued at approximately $102,000. Finally, Parallel Advisors LLC raised its holdings in Permian Resources by 117.0% in the 4th quarter. Parallel Advisors LLC now owns 2,185 shares of the company's stock valued at $30,000 after buying an additional 1,178 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PR has been the subject of several analyst reports. Mizuho lowered their target price on Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their price objective on Permian Resources from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, September 12th. Truist Financial lifted their price objective on Permian Resources from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. BMO Capital Markets raised shares of Permian Resources from a "market perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research report on Wednesday, July 3rd. Finally, Piper Sandler dropped their price target on shares of Permian Resources from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.50.

Permian Resources Stock Down 2.8 %

PR traded down $0.39 during trading on Wednesday, hitting $13.75. 6,766,058 shares of the company's stock were exchanged, compared to its average volume of 10,076,262. The stock has a market cap of $10.59 billion, a P/E ratio of 12.76, a PEG ratio of 0.81 and a beta of 4.33. The business's 50 day moving average is $14.41 and its two-hundred day moving average is $15.81. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40.

Permian Resources (NASDAQ:PR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The company's quarterly revenue was up 99.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.27 earnings per share. As a group, equities analysts expect that Permian Resources Co. will post 1.53 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a dividend yield of 1.75%. Permian Resources's dividend payout ratio is currently 21.82%.

Insider Transactions at Permian Resources

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

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.