Schroder Investment Management Group Sells 244,706 Shares of Permian Resources Co. (NYSE:PR)

Schroder Investment Management Group trimmed its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,064,193 shares of the company's stock after selling 244,706 shares during the quarter. Schroder Investment Management Group owned approximately 0.38% of Permian Resources worth $43,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in Permian Resources by 20.9% during the third quarter. The Manufacturers Life Insurance Company now owns 579,375 shares of the company's stock valued at $7,885,000 after acquiring an additional 100,056 shares in the last quarter. Townsquare Capital LLC bought a new position in shares of Permian Resources during the 3rd quarter valued at $257,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Permian Resources by 7.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 190,152 shares of the company's stock valued at $2,588,000 after purchasing an additional 12,722 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Permian Resources by 12.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,024,949 shares of the company's stock worth $13,950,000 after purchasing an additional 117,229 shares in the last quarter. Finally, PEAK6 Investments LLC increased its position in Permian Resources by 50.6% during the third quarter. PEAK6 Investments LLC now owns 43,982 shares of the company's stock worth $599,000 after buying an additional 14,786 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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Permian Resources Stock Performance

Permian Resources stock traded down $1.53 during trading hours on Friday, hitting $10.74. The stock had a trading volume of 20,220,853 shares, compared to its average volume of 9,514,298. The company has a 50-day moving average of $13.87 and a two-hundred day moving average of $14.34. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a fifty-two week low of $10.62 and a fifty-two week high of $18.28. The company has a market cap of $8.63 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.59%. Permian Resources's payout ratio is 41.96%.

Insider Buying and Selling

In other news, CFO Guy M. Oliphint sold 4,150 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total value of $58,058.50. Following the sale, the chief financial officer now directly owns 130,467 shares in the company, valued at approximately $1,825,233.33. This represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William J. Quinn bought 500,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the transaction, the director now directly owns 812,429 shares in the company, valued at $10,618,447.03. This trade represents a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 9,685 shares of company stock valued at $135,687 over the last ninety days. 12.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PR shares. JPMorgan Chase & Co. reduced their price target on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Susquehanna raised Permian Resources from a "neutral" rating to a "positive" rating and upped their target price for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Citigroup lowered shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Williams Trading set a $19.00 price objective on shares of Permian Resources in a report on Wednesday, March 5th. Finally, Truist Financial lifted their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Permian Resources currently has a consensus rating of "Moderate Buy" and an average target price of $19.13.

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.