Frontier Capital Management Co. LLC Sells 215,403 Shares of Permian Resources Co. (NYSE:PR)

Frontier Capital Management Co. LLC decreased its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. lifted its stake in shares of 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 acquiring an additional 852 shares during the last quarter. ORG Wealth Partners LLC bought a new position in Permian Resources during the 4th quarter worth $31,000. Global Retirement Partners LLC raised its position in shares of Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock worth $36,000 after acquiring an additional 1,232 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after acquiring an additional 2,305 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC acquired a new stake in shares of Permian Resources in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Trading Up 2.2%

Shares of Permian Resources stock traded up $0.30 during trading on Tuesday, reaching $13.93. 8,857,308 shares of the stock were exchanged, compared to its average volume of 9,913,982. Permian Resources Co. has a 1 year low of $10.01 and a 1 year high of $16.95. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20. The stock's fifty day moving average is $12.49 and its 200 day moving average is $13.90. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources (NYSE:PR - Get Free Report) last released 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 return on equity of 11.15% and a net margin of 21.20%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company earned $0.25 earnings per share. Permian Resources's quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that Permian Resources Co. will post 1.45 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Monday, June 16th. Permian Resources's dividend payout ratio (DPR) is currently 37.04%.

Insider Activity at Permian Resources

In other news, CFO Guy M. Oliphint sold 4,150 shares of Permian Resources stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total transaction of $58,058.50. Following the transaction, the chief financial officer now owns 130,467 shares in the company, valued at $1,825,233.33. This trade represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the transaction, the chief accounting officer now owns 58,668 shares in the company, valued at $822,525.36. This represents a 4.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,685 shares of company stock valued at $135,687 over the last 90 days. Corporate insiders own 6.44% of the company's stock.

Wall Street Analysts Forecast Growth

PR has been the subject of a number of analyst reports. UBS Group lifted their price target on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Monday. Royal Bank of Canada lowered their target price on shares of Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Morgan Stanley lowered their target price on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Williams Trading set a $19.00 price target on shares of Permian Resources in a report on Wednesday, March 5th. Finally, Citigroup lowered shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Permian Resources currently has an average rating of "Moderate Buy" and an average target price of $18.47.

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.