Y Intercept Hong Kong Ltd Takes $1.03 Million Position in Permian Resources Co. (NYSE:PR)

Y Intercept Hong Kong Ltd acquired a new position in Permian Resources Co. (NYSE:PR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 71,437 shares of the company’s stock, valued at approximately $1,027,000.

Other large investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Permian Resources by 6.1% during the third quarter. State Street Corp now owns 22,027,153 shares of the company’s stock worth $299,790,000 after purchasing an additional 1,263,460 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Permian Resources by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock worth $247,042,000 after acquiring an additional 1,543,854 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Permian Resources by 17.6% during the third quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock worth $148,957,000 after acquiring an additional 1,638,618 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Permian Resources by 19.8% during the fourth quarter. Jennison Associates LLC now owns 9,159,252 shares of the company’s stock valued at $131,710,000 after acquiring an additional 1,511,923 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Permian Resources by 58.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after purchasing an additional 2,023,742 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

PR has been the subject of a number of research reports. Morgan Stanley assumed coverage on Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Piper Sandler increased their price target on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Truist Financial lifted their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Permian Resources has an average rating of “Moderate Buy” and a consensus price target of $19.13.

Permian Resources Trading Up 2.2 %

Shares of Permian Resources stock opened at $13.97 on Thursday. Permian Resources Co. has a fifty-two week low of $12.62 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. The company has a market cap of $11.22 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 4.05 and a beta of 4.28. The firm has a 50-day simple moving average of $14.68 and a two-hundred day simple moving average of $14.47.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.30%. Permian Resources’s dividend payout ratio is currently 36.36%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.80% of the stock is owned by corporate insiders.

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.