Permian Resources Co. (NYSE:PR) Shares Sold by Versor Investments LP

Versor Investments LP lessened its holdings in shares of Permian Resources Co. (NYSE:PR) by 72.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,600 shares of the company’s stock after selling 86,900 shares during the quarter. Versor Investments LP’s holdings in Permian Resources were worth $444,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. TimesSquare Capital Management LLC grew its holdings in Permian Resources by 25.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 3,939,985 shares of the company’s stock valued at $53,623,000 after buying an additional 791,005 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in shares of Permian Resources in the third quarter valued at about $247,000. Sigma Planning Corp increased its position in Permian Resources by 21.7% during the third quarter. Sigma Planning Corp now owns 22,221 shares of the company’s stock worth $302,000 after purchasing an additional 3,967 shares during the last quarter. Atria Investments Inc acquired a new position in Permian Resources in the 3rd quarter valued at about $417,000. Finally, Verdence Capital Advisors LLC grew its stake in shares of Permian Resources by 6.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 277,637 shares of the company’s stock valued at $3,779,000 after buying an additional 16,974 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Benchmark decreased their price objective on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Citigroup decreased their price target on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Truist Financial upped their target price on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Wolfe Research started coverage on shares of Permian Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.87.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares in the company, valued at $1,075,911.41. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Robert Regan Shannon sold 4,822 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the sale, the chief accounting officer now owns 61,399 shares in the company, valued at $855,288.07. This trade represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.80% of the company’s stock.

Permian Resources Stock Up 1.3 %

PR stock opened at $15.18 on Friday. The company’s 50 day moving average price is $14.00 and its 200 day moving average price is $15.03. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.91 and a beta of 4.34. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week 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.

Permian Resources (NYSE:PR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. On average, equities research analysts anticipate that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th will be given a dividend of $0.15 per share. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. This represents a $0.60 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, November 14th. Permian Resources’s dividend payout ratio is currently 14.55%.

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.