673,114 Shares in Permian Resources Co. (NASDAQ:PR) Bought by Peregrine Capital Management LLC

Peregrine Capital Management LLC purchased a new stake in shares of Permian Resources Co. (NASDAQ:PR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 673,114 shares of the company's stock, valued at approximately $9,154,000. Peregrine Capital Management LLC owned 0.09% of Permian Resources at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new position in shares of Permian Resources during the fourth quarter worth about $33,000. Quarry LP acquired a new position in shares of Permian Resources during the first quarter worth about $33,000. Clearstead Advisors LLC acquired a new position in shares of Permian Resources during the third quarter worth about $45,000. Optimum Investment Advisors acquired a new position in shares of Permian Resources during the fourth quarter worth about $50,000. Finally, Sandia Investment Management LP acquired a new position in shares of Permian Resources during the first quarter worth about $52,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on PR shares. Wells Fargo & Company boosted their price target on Permian Resources from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 5th. Susquehanna boosted their price target on Permian Resources from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, February 29th. Stifel Nicolaus boosted their price target on Permian Resources from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. Benchmark boosted their price target on Permian Resources from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. Finally, UBS Group cut their price target on Permian Resources from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, December 14th. Three 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

Permian Resources Stock Performance

PR traded down $0.05 during trading hours on Wednesday, hitting $18.03. The company's stock had a trading volume of 9,176,047 shares, compared to its average volume of 9,712,771. Permian Resources Co. has a fifty-two week low of $8.94 and a fifty-two week high of $18.27. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $13.92 billion, a PE ratio of 15.54 and a beta of 4.35. The company has a 50-day simple moving average of $15.78 and a 200 day simple moving average of $14.37.

Permian Resources (NASDAQ:PR - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Permian Resources had a return on equity of 10.98% and a net margin of 15.26%. The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.11 billion. As a group, sell-side analysts expect that Permian Resources Co. will post 1.55 EPS for the current year.

Permian Resources Dividend Announcement

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

Insider Activity

In other news, CAO Brent P. Jensen sold 203,687 shares of the firm's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the completion of the sale, the chief accounting officer now directly owns 1,062,345 shares of the company's stock, valued at approximately $15,457,119.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Brent P. Jensen sold 203,687 shares of the firm's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total transaction of $2,963,645.85. Following the completion of the sale, the chief accounting officer now directly owns 1,062,345 shares of the company's stock, valued at approximately $15,457,119.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Brent P. Jensen sold 84,554 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $14.96, for a total value of $1,264,927.84. Following the sale, the chief accounting officer now directly owns 932,325 shares of the company's stock, valued at $13,947,582. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,916,943 shares of company stock worth $516,796,999. 23.14% of the stock is owned by company insiders.

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.