XTX Topco Ltd Sells 36,936 Shares of Permian Resources Corporation (NYSE:PR)

Key Points

• XTX Topco Ltd reduced its holdings in Permian Resources Corporation by 20.5% in Q1, owning 143,029 shares valued at $1.98 million after selling 36,936 shares.
• Several institutional investors increased their stakes in Permian Resources during the same quarter, with GSA Capital Partners LLP boosting its holdings by 258.6% to own 133,771 shares.
• Analysts have raised their price targets for Permian Resources, with the current consensus rating at "Buy" and an average target price of $18.47, despite a recent earnings miss.

XTX Topco Ltd cut its position in Permian Resources Corporation (NYSE:PR - Free Report) by 20.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,029 shares of the company's stock after selling 36,936 shares during the quarter. XTX Topco Ltd's holdings in Permian Resources were worth $1,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PR. Hexagon Capital Partners LLC raised its position in shares of Permian Resources by 30.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 3,909 shares of the company's stock valued at $54,000 after buying an additional 921 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in shares of Permian Resources by 5.1% during the 1st quarter. HighPoint Advisor Group LLC now owns 20,404 shares of the company's stock valued at $283,000 after purchasing an additional 986 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Permian Resources by 8.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 13,355 shares of the company's stock valued at $192,000 after purchasing an additional 1,009 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Permian Resources by 1.8% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 64,181 shares of the company's stock valued at $889,000 after purchasing an additional 1,106 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in shares of Permian Resources by 18.1% during the 1st quarter. SBI Securities Co. Ltd. now owns 7,331 shares of the company's stock valued at $102,000 after purchasing an additional 1,122 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Stock Down 3.7%

Permian Resources stock traded down $0.53 during trading hours on Friday, hitting $13.63. The stock had a trading volume of 11,324,783 shares, compared to its average volume of 9,285,086. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $10.95 billion, a P/E ratio of 8.41 and a beta of 1.32. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $16.33. The stock's 50-day moving average price is $13.82 and its 200-day moving average price is $13.52.

Permian Resources (NYSE:PR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.37 billion. Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The firm's quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Equities research analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.4%. Permian Resources's payout ratio is 37.04%.

Analysts Set New Price Targets

PR has been the topic of several recent research reports. Royal Bank Of Canada increased their target price on shares of Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Susquehanna increased their target price on shares of Permian Resources from $19.00 to $20.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group raised their price target on shares of Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 16th. TD Cowen raised shares of Permian Resources to a "strong-buy" rating in a report on Monday, July 7th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $23.00 price target (up previously from $20.00) on shares of Permian Resources in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Permian Resources has an average rating of "Buy" and a consensus price target of $18.47.

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.