Leeward Investments LLC MA Has $31.38 Million Stake in Permian Resources Co. (NASDAQ:PR)

Leeward Investments LLC MA boosted its position in shares of Permian Resources Co. (NASDAQ:PR - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,307,492 shares of the company's stock after acquiring an additional 120,007 shares during the period. Permian Resources accounts for about 1.5% of Leeward Investments LLC MA's holdings, making the stock its 5th biggest position. Leeward Investments LLC MA owned 0.30% of Permian Resources worth $31,382,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D lifted its position in Permian Resources by 15.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 206,745 shares of the company's stock valued at $2,812,000 after purchasing an additional 28,289 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Permian Resources during the fourth quarter valued at approximately $159,000. Yousif Capital Management LLC lifted its position in Permian Resources by 52.4% during the fourth quarter. Yousif Capital Management LLC now owns 181,011 shares of the company's stock valued at $2,462,000 after purchasing an additional 62,210 shares during the last quarter. GAMMA Investing LLC bought a new stake in Permian Resources during the fourth quarter valued at approximately $43,000. Finally, New York State Common Retirement Fund bought a new stake in Permian Resources during the fourth quarter valued at approximately $1,550,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

Analyst Upgrades and Downgrades

PR has been the subject of several research analyst reports. Truist Financial lifted their target price on shares of Permian Resources from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Monday, April 22nd. Citigroup boosted their price objective on shares of Permian Resources from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, March 1st. Piper Sandler boosted their price objective on shares of Permian Resources from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. Mizuho 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 Monday, April 15th. Finally, Susquehanna boosted their price objective on shares of Permian Resources from $16.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.31.

Insider Transactions at Permian Resources

In other news, Director Robert John Anderson sold 1,000,000 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $15.71, for a total value of $15,710,000.00. Following the sale, the director now directly owns 476,306 shares of the company's stock, valued at approximately $7,482,767.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William J. Quinn sold 18,076,849 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $15.71, for a total value of $283,987,297.79. Following the sale, the director now directly owns 71,056,620 shares of the company's stock, valued at approximately $1,116,299,500.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert John Anderson sold 1,000,000 shares of the company's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $15.71, for a total transaction of $15,710,000.00. Following the completion of the transaction, the director now owns 476,306 shares in the company, valued at approximately $7,482,767.26. The disclosure for this sale can be found here. Insiders have sold 32,916,943 shares of company stock valued at $516,796,999 in the last three months. 23.14% of the stock is currently owned by company insiders.

Permian Resources Trading Up 0.3 %

Permian Resources stock traded up $0.05 during mid-day trading on Friday, reaching $17.38. 5,323,131 shares of the company traded hands, compared to its average volume of 7,357,422. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.52 and a quick ratio of 0.52. The firm's 50 day moving average price is $16.69 and its 200 day moving average price is $14.70. The firm has a market capitalization of $13.41 billion, a price-to-earnings ratio of 14.98 and a beta of 4.35. Permian Resources Co. has a 52-week low of $8.94 and a 52-week high of $18.28.

Permian Resources (NASDAQ:PR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. On average, analysts anticipate that Permian Resources Co. will post 1.66 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Tuesday, March 12th. Permian Resources's payout ratio is currently 17.24%.

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.