71,279 Shares in Permian Resources Co. (NYSE:PR) Purchased by Sharpepoint LLC

Sharpepoint LLC acquired a new stake in shares of Permian Resources Co. (NYSE:PR) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 71,279 shares of the company’s stock, valued at approximately $1,025,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Permian Resources by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company’s stock worth $944,487,000 after acquiring an additional 870,622 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Permian Resources during the fourth quarter valued at approximately $431,676,000. Massachusetts Financial Services Co. MA boosted its position in shares of Permian Resources by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company’s stock worth $265,209,000 after purchasing an additional 291,444 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Permian Resources by 7.2% in the 4th quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company’s stock worth $196,025,000 after buying an additional 909,740 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Permian Resources by 55.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company’s stock valued at $169,864,000 after buying an additional 4,236,141 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Up 4.7 %

Shares of Permian Resources stock opened at $12.04 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $9.67 billion, a PE ratio of 7.29, a P/E/G ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 1-year low of $10.01 and a 1-year high of $17.62. The company’s fifty day simple moving average is $13.02 and its 200-day simple moving average is $14.12.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

Insider Activity

In other Permian Resources news, Director William J. Quinn bought 500,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the transaction, the director now owns 812,429 shares of the company’s stock, valued at $10,618,447.03. This trade represents a 160.04 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Charles Bell sold 2,804 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the transaction, the executive vice president now owns 74,433 shares of the company’s stock, valued at $1,044,294.99. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,685 shares of company stock valued at $135,687 in the last ninety days. Corporate insiders own 12.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PR shares. Royal Bank of Canada dropped their target price on Permian Resources from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Williams Trading set a $19.00 price target on shares of Permian Resources in a research note on Wednesday, March 5th. Morgan Stanley reduced their price objective on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Citigroup downgraded shares of Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Finally, Bank of America decreased their price objective on shares of Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Permian Resources has a consensus rating of “Moderate Buy” and a consensus target price of $18.73.

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.