Two Sigma Investments LP Reduces Holdings in Permian Resources Co. (NYSE:PR)

Two Sigma Investments LP lessened its stake in Permian Resources Co. (NYSE:PR - Free Report) by 90.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,030 shares of the company's stock after selling 314,991 shares during the quarter. Two Sigma Investments LP's holdings in Permian Resources were worth $475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kingsview Wealth Management LLC bought a new position in shares of Permian Resources during the 4th quarter valued at approximately $632,000. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $62,407,000 after buying an additional 176,320 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Permian Resources by 36.9% in the 4th quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock worth $3,881,000 after buying an additional 72,726 shares during the last quarter. Channing Capital Management LLC raised its position in shares of Permian Resources by 286.1% during the 4th quarter. Channing Capital Management LLC now owns 620,138 shares of the company's stock valued at $8,918,000 after buying an additional 459,516 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Permian Resources by 60.9% in the 4th quarter. M&T Bank Corp now owns 53,742 shares of the company's stock valued at $773,000 after acquiring an additional 20,340 shares during the last quarter. Institutional investors own 91.84% of the company's stock.

Permian Resources Stock Up 1.9%

PR stock traded up $0.28 during trading on Friday, hitting $14.75. 1,785,441 shares of the company's stock traded hands, compared to its average volume of 9,749,368. The firm has a market capitalization of $11.85 billion, a P/E ratio of 8.97, a PEG ratio of 4.05 and a beta of 1.24. Permian Resources Co. has a 1 year low of $10.01 and a 1 year high of $16.95. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $12.51 and a two-hundred day simple moving average of $13.69.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings results 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 net margin of 21.20% and a return on equity of 11.15%. The company had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter in the prior year, the business posted $0.25 earnings per share. The company's revenue was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that Permian Resources Co. will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 dividend yield of 4.07%. The ex-dividend date is Monday, June 16th. Permian Resources's dividend payout ratio is currently 37.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PR shares. Morgan Stanley dropped 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 note on Thursday, March 27th. Citigroup lowered Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group increased their price target on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Susquehanna dropped their price objective on Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, Piper Sandler cut their price objective on Permian Resources from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.56.

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.