Xponance Inc. Increases Stake in Permian Resources Co. (NASDAQ:PR)

Xponance Inc. raised its stake in shares of Permian Resources Co. (NASDAQ:PR) by 51.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,464 shares of the company’s stock after buying an additional 19,934 shares during the quarter. Xponance Inc.’s holdings in Permian Resources were worth $795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PR. Arizona State Retirement System boosted its position in shares of Permian Resources by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 71,590 shares of the company’s stock valued at $999,000 after acquiring an additional 1,041 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Permian Resources by 2.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 62,816 shares of the company’s stock valued at $877,000 after acquiring an additional 1,275 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Permian Resources by 6.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 34,491 shares of the company’s stock valued at $481,000 after acquiring an additional 1,981 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Permian Resources by 6.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 33,704 shares of the company’s stock valued at $471,000 after acquiring an additional 2,063 shares during the last quarter. Finally, Advisor Partners II LLC boosted its position in shares of Permian Resources by 2.2% during the 3rd quarter. Advisor Partners II LLC now owns 102,155 shares of the company’s stock valued at $1,426,000 after acquiring an additional 2,219 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Brent P. Jensen sold 203,687 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the transaction, the chief accounting officer now owns 1,062,345 shares in the company, valued at $15,457,119.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Permian Resources news, CAO Brent P. Jensen sold 1,853 shares of Permian Resources stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $27,127.92. Following the transaction, the chief accounting officer now owns 1,047,610 shares in the company, valued at $15,337,010.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brent P. Jensen sold 203,687 shares of Permian Resources stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.55, for a total value of $2,963,645.85. Following the completion of the transaction, the chief accounting officer now owns 1,062,345 shares in the company, valued at approximately $15,457,119.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,916,943 shares of company stock worth $516,796,999. Company insiders own 23.14% of the company’s stock.

Permian Resources Stock Performance

PR stock opened at $17.33 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.42. The business’s fifty day simple moving average is $16.63 and its two-hundred day simple moving average is $14.67. Permian Resources Co. has a twelve month low of $8.94 and a twelve month high of $18.28. The firm has a market cap of $13.38 billion, a price-to-earnings ratio of 14.94 and a beta of 4.35.

Permian Resources (NASDAQ:PR) last released its earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Analysts predict that Permian Resources Co. will post 1.66 earnings per share for the current year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.20 annualized dividend and a dividend yield of 1.15%. Permian Resources’s dividend payout ratio is currently 17.24%.

Analyst Ratings Changes

A number of research firms have recently commented on PR. Mizuho increased their target price on Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Susquehanna raised their price target on Permian Resources from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday. Bank of America began coverage on Permian Resources in a research report on Friday, January 5th. They issued a “neutral” rating and a $15.00 price target for the company. Citigroup raised their price target on Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Raymond James began coverage on Permian Resources in a research report on Tuesday, April 9th. They issued a “strong-buy” rating and a $24.00 price target for the company. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and an average price target of $19.31.

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.