Yaupon Capital Management LP Has $45.15 Million Holdings in Permian Resources Co. (NYSE:PR)

Yaupon Capital Management LP decreased its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,140,087 shares of the company's stock after selling 608,329 shares during the period. Permian Resources comprises approximately 1.9% of Yaupon Capital Management LP's holdings, making the stock its 6th biggest holding. Yaupon Capital Management LP owned about 0.39% of Permian Resources worth $45,154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new position in Permian Resources during the 4th quarter worth $632,000. Wright Investors Service Inc. bought a new position in shares of Permian Resources during the fourth quarter worth about $498,000. Charles Schwab Investment Management Inc. increased its holdings in Permian Resources by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company's stock valued at $62,407,000 after buying an additional 176,320 shares during the last quarter. New York State Teachers Retirement System raised its stake in Permian Resources by 36.9% during the fourth quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock valued at $3,881,000 after buying an additional 72,726 shares in the last quarter. Finally, Perpetual Ltd acquired a new stake in Permian Resources during the fourth quarter valued at approximately $27,104,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

Permian Resources Stock Up 0.5 %

PR traded up $0.06 during midday trading on Friday, hitting $12.26. 6,323,320 shares of the company's stock traded hands, compared to its average volume of 9,721,460. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $9.85 billion, a PE ratio of 7.43, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81. The stock's fifty day simple moving average is $12.84 and its 200-day simple moving average is $14.05. Permian Resources Co. has a one year low of $10.01 and a one year high of $17.62.

Permian Resources Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 4.89%. Permian Resources's dividend payout ratio (DPR) is currently 41.96%.

Insider Buying and Selling

In related news, Director William J. Quinn bought 500,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the transaction, the director now owns 812,429 shares of the company's stock, valued at $10,618,447.03. The trade was a 160.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Guy M. Oliphint sold 4,150 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total transaction of $58,058.50. Following the completion of the sale, the chief financial officer now owns 130,467 shares in the company, valued at $1,825,233.33. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,685 shares of company stock valued at $135,687. Company insiders own 12.80% of the company's stock.

Analysts Set New Price Targets

PR has been the topic of a number of research reports. Citigroup cut shares of Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. Bank of America cut their target price on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Susquehanna decreased their target price on Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research note on Tuesday. Morgan Stanley dropped their price target on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, Williams Trading set a $19.00 price objective on shares of Permian Resources in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.67.

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.