Sharpepoint LLC Invests $1.03 Million in Permian Resources Co. (NYSE:PR)

Sharpepoint LLC purchased a new stake in shares of Permian Resources Co. (NYSE:PR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 71,279 shares of the company's stock, valued at approximately $1,025,000.

Several other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Permian Resources by 188.0% during the 3rd quarter. Wellington Management Group LLP now owns 42,404 shares of the company's stock valued at $577,000 after buying an additional 27,679 shares during the period. MML Investors Services LLC purchased a new stake in shares of Permian Resources during the third quarter worth $586,000. Sanctuary Advisors LLC boosted its position in Permian Resources by 35.7% during the third quarter. Sanctuary Advisors LLC now owns 47,403 shares of the company's stock valued at $645,000 after purchasing an additional 12,471 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Permian Resources during the 3rd quarter worth about $57,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Permian Resources by 54.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,360,809 shares of the company's stock valued at $19,351,000 after buying an additional 482,405 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Permian Resources

In other news, CFO Guy M. Oliphint sold 4,150 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the transaction, the chief financial officer now directly owns 130,467 shares of the company's stock, valued at approximately $1,825,233.33. This represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,685 shares of company stock valued at $135,687 in the last 90 days. 12.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Susquehanna cut their price objective on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research report on Tuesday. 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. Citigroup lowered Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. Truist Financial upped their price target on Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Piper Sandler cut their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Permian Resources has a consensus rating of "Moderate Buy" and an average target price of $18.67.

Permian Resources Stock Performance

Shares of PR stock traded up $0.05 during mid-day trading on Friday, reaching $12.25. The stock had a trading volume of 3,618,094 shares, compared to its average volume of 9,693,709. Permian Resources Co. has a one year low of $10.01 and a one year high of $17.62. The firm has a market cap of $9.84 billion, a PE ratio of 7.41, a P/E/G ratio of 4.05 and a beta of 3.81. The firm's 50 day simple moving average is $12.84 and its 200 day simple moving average is $14.05. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.90%. Permian Resources's dividend payout ratio is currently 41.96%.

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.