Permian Resources Co. (NYSE:PR) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC trimmed its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,349,000 shares of the company's stock after selling 215,403 shares during the period. Frontier Capital Management Co. LLC owned about 0.54% of Permian Resources worth $62,539,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Kingsview Wealth Management LLC purchased a new stake in shares of Permian Resources in the fourth quarter worth about $632,000. Wright Investors Service Inc. purchased a new stake in shares of Permian Resources during the 4th quarter worth approximately $498,000. Charles Schwab Investment Management Inc. boosted its position in shares of Permian Resources by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company's stock valued at $62,407,000 after acquiring an additional 176,320 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Permian Resources by 36.9% in the fourth quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock valued at $3,881,000 after purchasing an additional 72,726 shares in the last quarter. Finally, Perpetual Ltd bought a new stake in Permian Resources in the fourth quarter worth $27,104,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 4,150 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total value of $58,058.50. Following the sale, the chief financial officer now directly owns 130,467 shares in the company, valued at $1,825,233.33. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at approximately $822,525.36. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,685 shares of company stock valued at $135,687 over the last quarter. 6.44% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on PR. Williams Trading set a $19.00 price objective on Permian Resources in a research report on Wednesday, March 5th. Citigroup downgraded Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Bank of America cut their price objective on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Susquehanna dropped their price target 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $18.67.

Permian Resources Price Performance

Shares of PR stock traded up $0.03 during trading hours on Friday, hitting $13.04. 9,695,979 shares of the company's stock were exchanged, compared to its average volume of 9,904,710. Permian Resources Co. has a fifty-two week low of $10.01 and a fifty-two week high of $16.95. The firm has a market cap of $10.48 billion, a P/E ratio of 7.90, a P/E/G ratio of 4.05 and a beta of 1.20. 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 50 day moving average of $12.47 and a two-hundred day moving average of $13.91.

Permian Resources (NYSE:PR - Get Free Report) last released 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). The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.37 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business's revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. Sell-side analysts forecast that Permian Resources Co. will post 1.45 EPS for the current year.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.15 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.60%. Permian Resources's dividend payout ratio (DPR) is presently 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.