Interval Partners LP Sells 256,001 Shares of Permian Resources Co. (NYSE:PR)

Interval Partners LP lessened its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 49.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 263,273 shares of the company's stock after selling 256,001 shares during the quarter. Interval Partners LP's holdings in Permian Resources were worth $3,786,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Principal Securities Inc. grew its position in shares of Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after buying an additional 852 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock worth $36,000 after purchasing an additional 1,232 shares during the last quarter. Rakuten Securities Inc. lifted its stake in shares of Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after purchasing an additional 2,305 shares during the last quarter. RE Dickinson Investment Advisors LLC purchased a new stake in shares of Permian Resources during the 4th quarter worth $41,000. Finally, Lindbrook Capital LLC lifted its stake in shares of Permian Resources by 294.8% during the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock worth $42,000 after purchasing an additional 2,155 shares during the last quarter. Institutional investors own 91.84% of the company's stock.

Insider Buying and Selling at Permian Resources

In related news, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction that occurred 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 approximately $822,525.36. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William J. Quinn acquired 500,000 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the transaction, the director now owns 812,429 shares of the company's stock, valued at $10,618,447.03. This represents a 160.04% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 9,685 shares of company stock valued at $135,687. Company insiders own 6.44% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PR. Piper Sandler decreased their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Citigroup cut Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Morgan Stanley decreased their price objective 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. Bank of America decreased their price target on Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Williams Trading set a $19.00 price target on Permian Resources in a research note 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.67.

Permian Resources Stock Up 0.2%

Shares of PR stock opened at $13.04 on Monday. The stock has a 50 day moving average of $12.47 and a 200 day moving average of $13.91. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock 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. 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that Permian Resources Co. will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.60%. The ex-dividend date is Monday, June 16th. Permian Resources's payout ratio is currently 37.04%.

Permian Resources Company 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.

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