Permian Resources Co. (NYSE:PR) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC cut its stake in shares of Permian Resources Co. (NYSE:PR) by 59.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 142,397 shares of the company’s stock after selling 210,364 shares during the quarter. Magnetar Financial LLC’s holdings in Permian Resources were worth $2,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PR. Teacher Retirement System of Texas grew its stake in Permian Resources by 70.1% in the 4th quarter. Teacher Retirement System of Texas now owns 172,381 shares of the company’s stock valued at $2,479,000 after acquiring an additional 71,023 shares during the last quarter. Xponance Inc. grew its stake in Permian Resources by 3.8% in the 4th quarter. Xponance Inc. now owns 86,264 shares of the company’s stock valued at $1,240,000 after acquiring an additional 3,180 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Permian Resources by 67.0% in the 4th quarter. Advisors Asset Management Inc. now owns 204,501 shares of the company’s stock valued at $2,941,000 after acquiring an additional 82,038 shares during the last quarter. South Street Advisors LLC grew its stake in Permian Resources by 63.2% in the 4th quarter. South Street Advisors LLC now owns 856,602 shares of the company’s stock valued at $12,318,000 after acquiring an additional 331,822 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. grew its stake in Permian Resources by 17.6% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 54,688 shares of the company’s stock valued at $786,000 after acquiring an additional 8,187 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Charles Bell sold 2,804 shares of Permian Resources stock in a transaction dated 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 directly owns 74,433 shares in the company, valued at approximately $1,044,294.99. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,446 shares of company stock valued at $269,731. 12.80% of the stock is owned by corporate insiders.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $13.98 on Friday. 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 company’s 50-day moving average price is $14.33 and its two-hundred day moving average price is $14.33. Permian Resources Co. has a 52 week low of $11.84 and a 52 week high of $18.28. The stock has a market cap of $11.23 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.29%. Permian Resources’s dividend payout ratio is currently 41.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PR. Morgan Stanley began coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Williams Trading set a $19.00 price target on shares of Permian Resources in a research note on Wednesday, March 5th. Truist Financial raised their price target on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Citigroup cut shares of Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Permian Resources currently has an average rating of “Moderate Buy” and a consensus price target of $19.35.

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.