Silvercrest Asset Management Group LLC Sells 62,684 Shares of Permian Resources Co. (NYSE:PR)

Silvercrest Asset Management Group LLC cut its position in Permian Resources Co. (NYSE:PR - Free Report) by 14.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 359,470 shares of the company's stock after selling 62,684 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in Permian Resources were worth $5,169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Permian Resources by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock worth $2,021,000 after acquiring an additional 662 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Permian Resources by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company's stock worth $2,540,000 after acquiring an additional 700 shares during the period. CIBC Asset Management Inc lifted its stake in Permian Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock valued at $226,000 after purchasing an additional 805 shares during the last quarter. Principal Securities Inc. lifted its stake in Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after purchasing an additional 852 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Permian Resources by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company's stock valued at $1,862,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 91.84% of the company's stock.

Insiders Place Their Bets

In related news, Director William J. Quinn purchased 500,000 shares of Permian Resources stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the acquisition, the director now owns 812,429 shares of the company's stock, valued at $10,618,447.03. This trade represents a 160.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Charles Bell sold 2,804 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction 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 $1,044,294.99. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,685 shares of company stock worth $135,687. 6.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Susquehanna dropped their price objective on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price target on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Morgan Stanley decreased their price target on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. The Goldman Sachs Group upped their price target on shares of Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Williams Trading set a $19.00 price target on shares of Permian Resources in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.56.

Permian Resources Trading Down 1.1%

Shares of PR traded down $0.14 during trading hours on Friday, hitting $12.71. 6,310,562 shares of the stock were exchanged, compared to its average volume of 9,709,277. Permian Resources Co. has a fifty-two week low of $10.01 and a fifty-two week 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 business has a 50-day moving average of $12.55 and a 200-day moving average of $13.87. The firm has a market capitalization of $10.21 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20.

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 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 analyst estimates of $1.37 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. On average, research analysts expect that Permian Resources Co. will post 1.45 EPS for the current 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 issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Monday, June 16th. 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.