Hsbc Holdings PLC Buys Shares of 152,288 Permian Resources Co. (NYSE:PR)

Hsbc Holdings PLC purchased a new stake in shares of Permian Resources Co. (NYSE:PR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 152,288 shares of the company's stock, valued at approximately $2,199,000.

Several other institutional investors have also added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Permian Resources by 0.5% during the 4th 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 purchasing an additional 662 shares during the period. Louisiana State Employees Retirement System increased its holdings in Permian Resources by 0.4% in the 4th 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 last quarter. CIBC Asset Management Inc increased its stake in Permian Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock worth $226,000 after acquiring an additional 805 shares during the last quarter. Principal Securities Inc. raised its stake in 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 purchasing an additional 852 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Permian Resources by 0.7% in the 4th 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 last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Stock Performance

Shares of PR stock traded up $0.10 on Friday, hitting $12.20. The company had a trading volume of 8,792,595 shares, compared to its average volume of 9,793,814. The firm has a market cap of $9.80 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a twelve month low of $10.01 and a twelve month high of $17.62. The company has a 50-day moving average price of $12.59 and a 200-day moving average price of $13.96. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.92%. Permian Resources's payout ratio is 41.96%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Williams Trading set a $19.00 price target on Permian Resources in a research report on Wednesday, March 5th. Piper Sandler cut their price target on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Citigroup downgraded shares of Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Bank of America decreased their price target on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.67.

Insider Activity at Permian Resources

In other news, Director William J. Quinn acquired 500,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $13.07 per share, for a total transaction of $6,535,000.00. Following the purchase, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Guy M. Oliphint sold 4,150 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the transaction, the chief financial officer now directly owns 130,467 shares of the company's stock, valued at approximately $1,825,233.33. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,685 shares of company stock worth $135,687. 6.44% of the stock is owned by company insiders.

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.