Moody Aldrich Partners LLC Sells 232,920 Shares of Permian Resources Co. (NASDAQ:PR)

Moody Aldrich Partners LLC decreased its position in Permian Resources Co. (NASDAQ:PR - Free Report) by 34.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 445,591 shares of the company's stock after selling 232,920 shares during the period. Moody Aldrich Partners LLC owned about 0.06% of Permian Resources worth $6,060,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PR. Envestnet Asset Management Inc. purchased a new stake in shares of Permian Resources in the third quarter valued at about $1,053,000. Macquarie Group Ltd. purchased a new stake in Permian Resources during the third quarter worth about $105,000. Bank of New York Mellon Corp purchased a new stake in Permian Resources during the third quarter worth about $8,153,000. Ensign Peak Advisors Inc purchased a new stake in Permian Resources during the third quarter worth about $233,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Permian Resources during the third quarter worth about $669,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

Permian Resources Trading Up 1.7 %

Shares of NASDAQ:PR traded up $0.30 during trading on Tuesday, reaching $18.08. The stock had a trading volume of 14,732,492 shares, compared to its average volume of 9,723,403. The business has a fifty day moving average price of $15.69 and a 200-day moving average price of $14.34. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.42. The stock has a market cap of $13.96 billion, a P/E ratio of 15.59 and a beta of 4.35. Permian Resources Co. has a fifty-two week low of $8.94 and a fifty-two week high of $18.25.

Permian Resources (NASDAQ:PR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. As a group, analysts anticipate that Permian Resources Co. will post 1.55 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Tuesday, March 12th. Permian Resources's dividend payout ratio is presently 17.24%.

Insider Activity

In related news, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $141,390,000.00. Following the completion of the transaction, the insider now owns 25,477,527 shares of the company's stock, valued at $400,251,949.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Encap Partners Gp, Llc sold 9,000,000 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total transaction of $141,390,000.00. Following the completion of the transaction, the insider now owns 25,477,527 shares of the company's stock, valued at $400,251,949.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Quinn sold 18,076,849 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $15.71, for a total transaction of $283,987,297.79. Following the transaction, the director now directly owns 71,056,620 shares of the company's stock, valued at approximately $1,116,299,500.20. The disclosure for this sale can be found here. Insiders sold a total of 32,916,943 shares of company stock valued at $516,796,999 over the last 90 days. Insiders own 23.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PR shares. Susquehanna boosted their price objective on shares of Permian Resources from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th. Raymond James started coverage on shares of Permian Resources in a report on Tuesday. They set a "strong-buy" rating and a $24.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Permian Resources from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. Truist Financial decreased their price objective on shares of Permian Resources from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Friday. Finally, UBS Group reduced their price target on shares of Permian Resources from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, December 14th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $18.50.

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.