Webs Creek Capital Management LP Grows Stock Position in Permian Resources Co. (NYSE:PR)

Webs Creek Capital Management LP raised its stake in shares of Permian Resources Co. (NYSE:PR - Free Report) by 44.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,729,646 shares of the company's stock after acquiring an additional 1,147,856 shares during the period. Permian Resources comprises approximately 12.9% of Webs Creek Capital Management LP's investment portfolio, making the stock its 2nd largest holding. Webs Creek Capital Management LP owned 0.46% of Permian Resources worth $53,632,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Permian Resources in the 4th quarter worth approximately $431,676,000. Price T Rowe Associates Inc. MD grew its stake in Permian Resources by 60.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock valued at $469,856,000 after acquiring an additional 12,306,854 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Permian Resources by 55.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company's stock worth $169,864,000 after purchasing an additional 4,236,141 shares during the period. Invesco Ltd. raised its holdings in shares of Permian Resources by 56.1% in the 4th quarter. Invesco Ltd. now owns 7,920,750 shares of the company's stock valued at $113,900,000 after acquiring an additional 2,845,449 shares in the last quarter. Finally, Perpetual Ltd purchased a new stake in Permian Resources in the fourth quarter valued at approximately $27,104,000. 91.84% of the stock is owned by institutional investors.

Permian Resources Stock Up 0.5 %

PR traded up $0.06 during trading on Friday, hitting $12.26. 6,323,320 shares of the company's stock traded hands, compared to its average volume of 9,739,138. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $17.62. The company's 50 day simple moving average is $12.79 and its two-hundred day simple moving average is $14.03. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 4.05 and a beta of 3.81.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date was Monday, March 17th. Permian Resources's dividend payout ratio (DPR) is 41.96%.

Insider Activity

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at approximately $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Charles Bell sold 2,804 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now owns 74,433 shares of the company's stock, valued at approximately $1,044,294.99. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,685 shares of company stock valued at $135,687 over the last three months. Insiders own 12.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PR shares. Williams Trading set a $19.00 price target on Permian Resources in a research note on Wednesday, March 5th. Susquehanna decreased their price objective on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler reduced their target price on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. 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 research note on Tuesday, April 1st. Finally, Royal Bank of Canada decreased their target price on Permian Resources from $18.00 to $16.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Permian Resources currently has an average rating of "Moderate Buy" and an average price target of $18.67.

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.