Barclays PLC Acquires 328,079 Shares of Permian Resources Co. (NYSE:PR)

Barclays PLC lifted its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 51.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 968,923 shares of the company's stock after acquiring an additional 328,079 shares during the period. Barclays PLC owned 0.12% of Permian Resources worth $13,933,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PR. Kingsview Wealth Management LLC bought a new position in shares of Permian Resources in the fourth quarter worth $632,000. Wright Investors Service Inc. acquired a new stake in Permian Resources in the fourth quarter worth about $498,000. Charles Schwab Investment Management Inc. grew its position in Permian Resources by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company's stock valued at $62,407,000 after buying an additional 176,320 shares in the last quarter. New York State Teachers Retirement System increased its stake in Permian Resources by 36.9% during the 4th quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock valued at $3,881,000 after buying an additional 72,726 shares during the period. Finally, Perpetual Ltd bought a new stake in shares of Permian Resources during the 4th quarter worth about $27,104,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Analyst Upgrades and Downgrades

PR has been the topic of a number of research analyst reports. Susquehanna lowered 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 note on Tuesday. Morgan Stanley lowered their price target on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Williams Trading set a $19.00 price objective on Permian Resources in a report on Wednesday, March 5th. Bank of America lowered their target price on Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Finally, Royal Bank of Canada dropped their price target on shares of Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.67.

Insider Buying and Selling

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

Permian Resources Trading Up 0.5 %

NYSE PR traded up $0.06 on Friday, hitting $12.26. 1,626,533 shares of the stock were exchanged, compared to its average volume of 9,167,704. The company's 50-day moving average price is $12.84 and its two-hundred day moving average price is $14.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a 52-week low of $10.01 and a 52-week high of $17.62. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 7.43, a P/E/G ratio of 4.05 and a beta of 3.81.

Permian Resources Dividend Announcement

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