WINTON GROUP Ltd Sells 223,472 Shares of Permian Resources Co. (NYSE:PR)

WINTON GROUP Ltd cut its holdings in shares of Permian Resources Co. (NYSE:PR - Free Report) by 61.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,419 shares of the company's stock after selling 223,472 shares during the period. WINTON GROUP Ltd's holdings in Permian Resources were worth $2,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PR. Kingsview Wealth Management LLC bought a new position in Permian Resources during the 4th quarter valued at $632,000. Wright Investors Service Inc. bought a new position in shares of Permian Resources during the fourth quarter valued at about $498,000. Point72 Asset Management L.P. lifted its position in shares of Permian Resources by 58.3% during the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company's stock valued at $74,811,000 after purchasing an additional 2,023,742 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Permian Resources by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company's stock worth $62,407,000 after purchasing an additional 176,320 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in Permian Resources by 36.9% in the 4th quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock worth $3,881,000 after purchasing an additional 72,726 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

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Insider Buying and Selling at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 2,804 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the transaction, the executive vice president now directly owns 74,433 shares of the company's stock, valued at $1,044,294.99. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Guy M. Oliphint sold 8,761 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,446 shares of company stock valued at $269,731 in the last quarter. 12.80% of the stock is currently owned by corporate insiders.

Permian Resources Stock Performance

Shares of NYSE:PR traded down $0.06 during trading on Tuesday, hitting $13.80. 7,129,763 shares of the company were exchanged, compared to its average volume of 9,445,657. Permian Resources Co. has a 52-week low of $11.84 and a 52-week high of $18.28. The stock has a 50 day moving average of $14.06 and a 200 day moving average of $14.37. 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 $11.08 billion, a PE ratio of 8.36, a P/E/G ratio of 4.05 and a beta of 4.30.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 annualized dividend and a yield of 4.35%. Permian Resources's dividend payout ratio is currently 41.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Williams Trading set a $19.00 target price on Permian Resources in a research note on Wednesday, March 5th. Piper Sandler cut their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Bank of America decreased their target price on Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Truist Financial raised their price objective 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 investment 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.