XTX Topco Ltd Sells 121,758 Shares of Permian Resources Co. (NYSE:PR)

XTX Topco Ltd decreased its holdings in shares of Permian Resources Co. (NYSE:PR - Free Report) by 80.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,852 shares of the company's stock after selling 121,758 shares during the quarter. XTX Topco Ltd's holdings in Permian Resources were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PR. Wealth Enhancement Advisory Services LLC lifted its holdings in Permian Resources by 2.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 155,874 shares of the company's stock worth $2,517,000 after purchasing an additional 4,459 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Permian Resources by 17.8% during the second quarter. Nisa Investment Advisors LLC now owns 6,833 shares of the company's stock worth $110,000 after buying an additional 1,032 shares in the last quarter. Summit Global Investments bought a new stake in shares of Permian Resources in the second quarter valued at about $1,973,000. Fifth Third Wealth Advisors LLC acquired a new position in shares of Permian Resources in the second quarter valued at about $240,000. Finally, 1620 Investment Advisors Inc. bought a new position in Permian Resources during the second quarter worth about $80,000. 91.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Monday, November 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $17.00 price target on shares of Permian Resources in a research note on Monday, October 14th. JPMorgan Chase & Co. lowered their price objective on Permian Resources from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note on Thursday, September 12th. Susquehanna cut their target price on Permian Resources from $16.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their target price on Permian Resources from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.93.

Permian Resources Trading Down 3.5 %

Shares of NYSE:PR traded down $0.52 during midday trading on Monday, hitting $14.16. 8,374,019 shares of the stock were exchanged, compared to its average volume of 9,877,205. The business's 50-day moving average price is $14.66 and its 200 day moving average price is $14.81. Permian Resources Co. has a 12 month low of $12.59 and a 12 month high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 0.88 and a beta of 4.35.

Permian Resources (NYSE:PR - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company's revenue for the quarter was up 60.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. Analysts predict that Permian Resources Co. will post 1.47 earnings per share for the current year.

Permian Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were given a dividend of $0.15 per share. This is a positive change from Permian Resources's previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Thursday, November 14th. Permian Resources's dividend payout ratio (DPR) is currently 36.36%.

About Permian Resources

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.