SCP Investment LP Has $1.71 Million Stock Holdings in Permian Resources Co. (NYSE:PR)

SCP Investment LP grew its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 315.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 118,800 shares of the company's stock after purchasing an additional 90,200 shares during the quarter. Permian Resources makes up approximately 1.3% of SCP Investment LP's holdings, making the stock its 13th biggest holding. SCP Investment LP's holdings in Permian Resources were worth $1,708,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Principal Securities Inc. boosted its holdings in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after buying an additional 852 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Permian Resources in the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC boosted its stake in Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock worth $36,000 after acquiring an additional 1,232 shares during the last quarter. Rakuten Securities Inc. grew its holdings in Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after purchasing an additional 2,305 shares during the period. Finally, Lindbrook Capital LLC increased its stake in Permian Resources by 294.8% in the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after purchasing an additional 2,155 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

In other news, Director William J. Quinn acquired 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 acquisition, the director now directly owns 812,429 shares in the company, valued at $10,618,447.03. The trade was a 160.04 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the transaction, the chief accounting officer now directly owns 58,668 shares of the company's stock, valued at approximately $822,525.36. The trade was a 4.45 % 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 over the last quarter. 12.80% of the stock is owned by company insiders.

Permian Resources Stock Performance

NYSE PR traded down $1.64 on Thursday, reaching $12.54. The stock had a trading volume of 5,396,630 shares, compared to its average volume of 9,425,146. Permian Resources Co. has a 1-year low of $11.84 and a 1-year high of $18.28. 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 $10.08 billion, a P/E ratio of 7.60, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. The firm has a fifty day moving average of $14.03 and a two-hundred day moving average of $14.37.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Monday, March 17th. Permian Resources's payout ratio is currently 41.96%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PR shares. Citigroup cut shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Morgan Stanley reduced their target price on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. JPMorgan Chase & Co. decreased their target price on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Williams Trading set a $19.00 price target on Permian Resources in a research report on Wednesday, March 5th. Finally, Truist Financial boosted their price objective on Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.13.

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.