Permian Resources Co. (NYSE:PR) Shares Bought by Trexquant Investment LP

Trexquant Investment LP raised its position in Permian Resources Co. (NYSE:PR - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,371,378 shares of the company's stock after purchasing an additional 108,067 shares during the quarter. Trexquant Investment LP owned 0.17% of Permian Resources worth $19,720,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PR. Principal Securities Inc. raised its holdings in shares of Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after buying an additional 852 shares during the period. ORG Wealth Partners LLC purchased a new stake in Permian Resources during the fourth quarter worth about $31,000. Global Retirement Partners LLC lifted its position in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock worth $36,000 after purchasing an additional 1,232 shares in the last quarter. Rakuten Securities Inc. boosted its stake in shares of Permian Resources by 1,152.5% in 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 grew its holdings in shares of 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. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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Permian Resources Stock Performance

PR stock traded down $1.53 on Friday, hitting $10.74. The company's stock had a trading volume of 20,220,853 shares, compared to its average volume of 9,514,298. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 6.51, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81. The firm has a 50 day moving average of $13.87 and a two-hundred day moving average of $14.34. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 1 year low of $10.62 and a 1 year high of $18.28.

Permian Resources Announces Dividend

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

Insider Buying and Selling

In related news, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William J. Quinn acquired 500,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the transaction, the director now owns 812,429 shares in the company, valued at $10,618,447.03. The trade was a 160.04 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 9,685 shares of company stock valued at $135,687 over the last quarter. 12.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PR shares. Susquehanna raised shares of Permian Resources from a "neutral" rating to a "positive" rating and raised their price target for the company 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 note on Wednesday, March 5th. Morgan Stanley dropped their price objective on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Piper Sandler lowered their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Finally, Bank of America cut their price target on Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus 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.