Crestline Management LP Purchases 67,512 Shares of Permian Resources Co. (NYSE:PR)

Crestline Management LP boosted its stake in Permian Resources Co. (NYSE:PR - Free Report) by 222.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,874 shares of the company's stock after purchasing an additional 67,512 shares during the quarter. Crestline Management LP's holdings in Permian Resources were worth $1,407,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Principal Securities Inc. lifted its stake in shares of Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after buying an additional 852 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Permian Resources in the fourth quarter valued at $31,000. Global Retirement Partners LLC lifted its stake in shares of Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after buying an additional 1,232 shares in the last quarter. Rakuten Securities Inc. lifted its stake in shares of Permian Resources by 1,152.5% in the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after buying an additional 2,305 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC bought a new position in Permian Resources during the 4th quarter valued at $41,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PR shares. JPMorgan Chase & Co. dropped their price target on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. 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. Williams Trading set a $19.00 price target on shares of Permian Resources in a research report on Wednesday, March 5th. Morgan Stanley dropped their price target on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, UBS Group lifted their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.47.

Permian Resources Stock Performance

Shares of Permian Resources stock traded down $0.17 during trading hours on Wednesday, reaching $13.78. The company had a trading volume of 3,935,360 shares, compared to its average volume of 9,522,479. Permian Resources Co. has a one year low of $10.01 and a one year high of $16.95. The business has a fifty day simple moving average of $12.53 and a 200 day simple moving average of $13.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $11.07 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.37 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. Permian Resources's revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. On average, analysts anticipate that Permian Resources Co. will post 1.45 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a $0.15 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a yield of 4.35%. Permian Resources's dividend payout ratio is presently 37.04%.

Insiders Place Their Bets

In other news, EVP John Charles Bell sold 2,804 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the sale, the executive vice president now owns 74,433 shares of the company's stock, valued at approximately $1,044,294.99. This represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert Regan Shannon sold 2,731 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the sale, the chief accounting officer now directly owns 58,668 shares of the company's stock, valued at $822,525.36. The trade was a 4.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,685 shares of company stock valued at $135,687 in the last quarter. Corporate insiders own 6.44% 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.