Permian Resources Co. (NYSE:PR) Shares Sold by Affinity Wealth Management LLC

Affinity Wealth Management LLC lessened its stake in shares of Permian Resources Co. (NYSE:PR - Free Report) by 88.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,567 shares of the company's stock after selling 283,881 shares during the period. Affinity Wealth Management LLC's holdings in Permian Resources were worth $511,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. American International Group Inc. grew its position in Permian Resources by 10.4% during the 1st quarter. American International Group Inc. now owns 830,432 shares of the company's stock worth $14,665,000 after purchasing an additional 78,146 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Permian Resources by 22.4% in the 1st quarter. Retirement Systems of Alabama now owns 577,336 shares of the company's stock valued at $10,196,000 after acquiring an additional 105,565 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Permian Resources by 69.7% in the 4th quarter. Vanguard Group Inc. now owns 48,315,321 shares of the company's stock valued at $657,088,000 after acquiring an additional 19,847,358 shares during the last quarter. Castleark Management LLC lifted its stake in shares of Permian Resources by 370.0% in the 1st quarter. Castleark Management LLC now owns 96,160 shares of the company's stock valued at $1,698,000 after purchasing an additional 75,700 shares during the period. Finally, California State Teachers Retirement System lifted its stake in shares of Permian Resources by 11.2% in the 1st quarter. California State Teachers Retirement System now owns 435,627 shares of the company's stock valued at $7,693,000 after purchasing an additional 43,901 shares during the period. Hedge funds and other institutional investors own 91.84% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BMO Capital Markets upgraded 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 note on Wednesday, July 3rd. Citigroup decreased their target price on shares of Permian Resources from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on shares of Permian Resources from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, September 12th. Wolfe Research assumed coverage on shares of Permian Resources in a research note on Thursday, July 18th. They issued a "peer perform" rating for the company. Finally, 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 research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Insider Activity at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 77,237 shares of the company's stock, valued at $1,075,911.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 77,237 shares of the company's stock, valued at $1,075,911.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 approximately $855,288.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is currently owned by insiders.

Permian Resources Price Performance

Shares of Permian Resources stock traded down $0.29 during trading hours on Monday, reaching $14.23. 6,553,836 shares of the company's stock were exchanged, compared to its average volume of 10,093,187. Permian Resources Co. has a 1 year low of $12.34 and a 1 year high of $18.28. The company has a market capitalization of $10.95 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 0.85 and a beta of 4.32. The business has a fifty day moving average of $14.06 and a two-hundred day moving average of $15.57. 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 (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Permian Resources had a net margin of 15.62% and a return on equity of 11.91%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Permian Resources's quarterly revenue was up 99.9% on a year-over-year basis. As a group, research analysts predict that Permian Resources Co. will post 1.49 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, August 19th. Permian Resources's dividend payout ratio is currently 21.82%.

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.