Two Sigma Investments LP Has $475,000 Position in Permian Resources Co. (NYSE:PR)

Two Sigma Investments LP cut its stake in shares of Permian Resources Co. (NYSE:PR - Free Report) by 90.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PR shares. Susquehanna lowered their target price on Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Williams Trading set a $19.00 target price on Permian Resources in a research note on Wednesday, March 5th. Bank of America raised their target price on Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. lowered their target price 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. Finally, Morgan Stanley lowered their target price 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 research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.56.

Permian Resources Trading Up 3.3%

PR stock traded up $0.48 during midday trading on Friday, reaching $14.95. The stock had a trading volume of 15,819,070 shares, compared to its average volume of 9,801,680. The business has a fifty day simple moving average of $12.51 and a two-hundred day simple moving average of $13.69. 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 firm has a market cap of $12.01 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 4.05 and a beta of 1.24. Permian Resources Co. has a twelve month low of $10.01 and a twelve month high of $16.95.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). The firm had revenue of $1.38 billion during 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%. Permian Resources's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. As a group, research analysts expect that Permian Resources Co. will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.01%. Permian Resources's payout ratio is currently 37.04%.

About Permian Resources

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.