Neo Ivy Capital Management Has $1.44 Million Holdings in Permian Resources Co. (NYSE:PR)

Neo Ivy Capital Management cut its holdings in shares of Permian Resources Co. (NYSE:PR - Free Report) by 37.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,125 shares of the company's stock after selling 59,403 shares during the period. Neo Ivy Capital Management's holdings in Permian Resources were worth $1,439,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PR. UMB Bank n.a. lifted its holdings in Permian Resources by 61.2% in the fourth quarter. UMB Bank n.a. now owns 4,500 shares of the company's stock valued at $65,000 after acquiring an additional 1,709 shares during the period. Janney Montgomery Scott LLC increased its position in Permian Resources by 11.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,542 shares of the company's stock worth $410,000 after purchasing an additional 2,884 shares in the last quarter. Secure Asset Management LLC increased its position in Permian Resources by 11.1% during the 4th quarter. Secure Asset Management LLC now owns 123,896 shares of the company's stock worth $1,782,000 after purchasing an additional 12,338 shares in the last quarter. Encompass More Asset Management purchased a new stake in Permian Resources during the 4th quarter worth about $518,000. Finally, Tributary Capital Management LLC increased its position in Permian Resources by 65.1% during the 4th quarter. Tributary Capital Management LLC now owns 84,805 shares of the company's stock worth $1,219,000 after purchasing an additional 33,448 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Susquehanna lowered their price target on Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Raymond James reissued a "strong-buy" rating and set a $23.00 price target (up from $20.00) on shares of Permian Resources in a research report on Monday, May 19th. JPMorgan Chase & Co. lowered their price objective on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Williams Trading set a $19.00 price objective on Permian Resources in a research note on Wednesday, March 5th. Finally, Morgan Stanley decreased their price target on Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $18.56.

Insider Activity

In related news, CFO Guy M. Oliphint sold 4,150 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 owns 130,467 shares in the company, valued at $1,825,233.33. This trade represents a 3.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 58,668 shares of the company's stock, valued at approximately $822,525.36. This trade represents a 4.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,685 shares of company stock worth $135,687. Insiders own 6.44% of the company's stock.

Permian Resources Trading Up 0.0%

Shares of PR stock traded up $0.01 on Thursday, reaching $12.69. 2,591,003 shares of the stock were exchanged, compared to its average volume of 9,656,583. The stock has a market cap of $10.19 billion, a PE ratio of 7.70, a P/E/G ratio of 4.05 and a beta of 1.20. Permian Resources Co. has a one year low of $10.01 and a one year high of $16.95. 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 stock has a 50 day moving average price of $12.47 and a 200 day moving average price of $13.84.

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

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.73%. Permian Resources's payout ratio is 37.04%.

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.