Permian Resources Co. (NYSE:PR) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in Permian Resources Co. (NYSE:PR - Free Report) by 84.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,851 shares of the company's stock after selling 238,367 shares during the period. SG Americas Securities LLC's holdings in Permian Resources were worth $583,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in shares of Permian Resources in the second quarter worth about $30,000. Rise Advisors LLC purchased a new stake in shares of Permian Resources during the 1st quarter worth approximately $32,000. Transcendent Capital Group LLC purchased a new stake in shares of Permian Resources during the 1st quarter worth approximately $36,000. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Permian Resources in the second quarter valued at $40,000. Finally, GAMMA Investing LLC grew its holdings in shares of Permian Resources by 19.6% in the second quarter. GAMMA Investing LLC now owns 4,364 shares of the company's stock valued at $70,000 after purchasing an additional 716 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Trading Down 4.5 %

Shares of NYSE:PR traded down $0.64 during trading on Tuesday, reaching $13.58. 10,493,649 shares of the company were exchanged, compared to its average volume of 10,095,211. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a market capitalization of $10.46 billion, a PE ratio of 12.93, a P/E/G ratio of 0.85 and a beta of 4.32. The business's fifty day simple moving average is $14.08 and its 200-day simple moving average is $15.55. Permian Resources Co. has a 12-month low of $12.34 and a 12-month high of $18.28.

Permian Resources (NYSE:PR - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, beating 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 business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company posted $0.27 EPS. Permian Resources's revenue was up 99.9% on a year-over-year basis. On average, research analysts anticipate that Permian Resources Co. will post 1.49 EPS for the current year.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Monday, August 19th. Permian Resources's dividend payout ratio (DPR) is presently 21.82%.

Insiders Place Their Bets

In other news, EVP John Charles Bell sold 4,821 shares of the business's 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 completion of the sale, the executive vice president now owns 77,237 shares in the company, valued at approximately $1,075,911.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 completion of the transaction, the executive vice president now directly owns 77,237 shares of the company's stock, valued at approximately $1,075,911.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Robert Regan Shannon sold 4,822 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,170.46. Following the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at approximately $855,288.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on PR. Mizuho dropped their price objective on shares of Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a research note on Monday, September 16th. BMO Capital Markets upgraded Permian Resources from a "market perform" rating to an "outperform" rating and set a $21.00 price objective on the stock in a research report on Wednesday, July 3rd. Citigroup dropped their target price on Permian Resources from $20.00 to $18.00 and set a "buy" rating for the company in a report on Friday, August 9th. Piper Sandler decreased their price target on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Wolfe Research started coverage on shares of Permian Resources in a research note on Thursday, July 18th. They set a "peer perform" rating for the company. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.93.

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.