Xponance Inc. Boosts Position in Permian Resources Co. (NASDAQ:PR)

Xponance Inc. lifted its stake in shares of Permian Resources Co. (NASDAQ:PR) by 51.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,464 shares of the company’s stock after acquiring an additional 19,934 shares during the period. Xponance Inc.’s holdings in Permian Resources were worth $795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PR. Jennison Associates LLC purchased a new position in shares of Permian Resources during the 3rd quarter worth $76,629,000. Vanguard Group Inc. raised its holdings in Permian Resources by 17.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,467,963 shares of the company’s stock valued at $397,413,000 after buying an additional 4,148,519 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Permian Resources in the 3rd quarter valued at about $54,744,000. KGH Ltd purchased a new stake in Permian Resources in the 3rd quarter valued at about $21,638,000. Finally, Bank of New York Mellon Corp raised its holdings in Permian Resources by 68.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,506,547 shares of the company’s stock valued at $48,951,000 after buying an additional 1,425,212 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

Shares of Permian Resources stock opened at $17.33 on Friday. Permian Resources Co. has a one year low of $8.94 and a one year high of $18.28. The company has a market cap of $13.38 billion, a PE ratio of 14.94 and a beta of 4.35. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52. The business has a 50-day simple moving average of $16.63 and a 200-day simple moving average of $14.67.

Permian Resources (NASDAQ:PR) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 EPS 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 during the quarter, compared to the consensus estimate of $1.11 billion. On average, equities research analysts forecast that Permian Resources Co. will post 1.66 EPS for the current fiscal year.

Permian Resources Announces Dividend

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

Insider Transactions at Permian Resources

In related news, CAO Brent P. Jensen sold 1,853 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $27,127.92. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. In related news, Director Robert John Anderson sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total transaction of $15,710,000.00. Following the completion of the sale, the director now owns 476,306 shares in the company, valued at $7,482,767.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Brent P. Jensen sold 1,853 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $27,127.92. Following the sale, the chief accounting officer now owns 1,047,610 shares of the company’s stock, valued at approximately $15,337,010.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,916,943 shares of company stock valued at $516,796,999. 23.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PR shares. Mizuho boosted their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, April 15th. Citigroup boosted their price objective on shares of Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. boosted their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research report on Friday, April 12th. Finally, Truist Financial lifted their target price on Permian Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $19.31.

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.