Permian Resources Co. (NASDAQ:PR) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd boosted its stake in Permian Resources Co. (NASDAQ:PR) by 723.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,610 shares of the company’s stock after acquiring an additional 133,190 shares during the period. XTX Topco Ltd’s holdings in Permian Resources were worth $2,449,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Simplicity Wealth LLC grew its position in Permian Resources by 5.2% during the second quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock worth $212,000 after buying an additional 646 shares during the period. GAMMA Investing LLC grew its holdings in Permian Resources by 19.6% in the second quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after purchasing an additional 716 shares during the last quarter. Azzad Asset Management Inc. ADV raised its position in Permian Resources by 2.0% during the first quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock worth $677,000 after acquiring an additional 740 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its stake in Permian Resources by 3.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock valued at $454,000 after buying an additional 781 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in Permian Resources by 0.5% during the 2nd quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock valued at $3,379,000 after buying an additional 949 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PR shares. Citigroup reduced their price objective on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Piper Sandler cut their price objective on shares of Permian Resources from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Bank of America restated a “buy” rating and set a $20.00 target price on shares of Permian Resources in a research report on Friday, June 14th. Mizuho decreased their target price on shares of Permian Resources from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, BMO Capital Markets upgraded Permian Resources from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.50.

Permian Resources Stock Performance

PR stock opened at $13.86 on Thursday. The stock has a market cap of $10.67 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.71 and a beta of 4.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a 50 day simple moving average of $14.66 and a 200 day simple moving average of $15.87. Permian Resources Co. has a 52 week low of $12.34 and a 52 week high of $18.28.

Permian Resources (NASDAQ:PR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The firm’s revenue was up 99.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. Research analysts anticipate that Permian Resources Co. will post 1.63 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 annualized dividend and a yield of 1.73%. Permian Resources’s dividend payout ratio (DPR) is presently 21.82%.

Insiders Place Their Bets

In related news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the completion of the sale, the executive vice president now owns 77,237 shares in the company, valued at approximately $1,075,911.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the sale, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Robert Regan Shannon sold 4,822 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now owns 61,399 shares in the company, valued at $855,288.07. The disclosure for this sale can be found here. Company insiders own 12.80% of the company’s stock.

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.