GTS Securities LLC Buys 21,727 Shares of Permian Resources Co. (NYSE:PR)

GTS Securities LLC lifted its stake in shares of Permian Resources Co. (NYSE:PR - Free Report) by 38.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,006 shares of the company's stock after purchasing an additional 21,727 shares during the quarter. GTS Securities LLC's holdings in Permian Resources were worth $1,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Permian Resources by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company's stock valued at $944,487,000 after buying an additional 870,622 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Permian Resources by 60.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock valued at $469,856,000 after purchasing an additional 12,306,854 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Permian Resources in the 4th quarter worth approximately $431,676,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Permian Resources by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company's stock worth $265,209,000 after purchasing an additional 291,444 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Permian Resources by 7.2% in the 4th quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company's stock worth $196,025,000 after purchasing an additional 909,740 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insider Transactions at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction on Monday, March 3rd. The stock was 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 directly owns 58,668 shares of the company's stock, valued at approximately $822,525.36. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William J. Quinn bought 500,000 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the purchase, the director now directly owns 812,429 shares in the company, valued at $10,618,447.03. This represents a 160.04% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 9,685 shares of company stock valued at $135,687. Corporate insiders own 6.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PR shares. Raymond James restated a "strong-buy" rating and set a $23.00 target price (up from $20.00) on shares of Permian Resources in a report on Monday, May 19th. The Goldman Sachs Group raised their price objective on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. reduced their target price on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Susquehanna decreased their price target on Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, Bank of America boosted their price objective on Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.56.

Permian Resources Stock Up 0.9%

Shares of Permian Resources stock traded up $0.12 during midday trading on Thursday, reaching $12.80. 7,365,130 shares of the company's stock traded hands, compared to its average volume of 9,674,761. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20. Permian Resources Co. has a 52 week low of $10.01 and a 52 week high of $16.95. The company's 50 day simple moving average is $12.47 and its 200 day simple moving average is $13.84.

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

Permian Resources Announces Dividend

The business also recently disclosed 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 4.69%. Permian Resources's dividend payout ratio is currently 37.04%.

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.