Alyeska Investment Group L.P. Has $20.95 Million Stake in Permian Resources Co. (NYSE:PR)

Alyeska Investment Group L.P. lessened its stake in shares of Permian Resources Co. (NYSE:PR - Free Report) by 58.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,457,071 shares of the company's stock after selling 2,074,080 shares during the quarter. Alyeska Investment Group L.P. owned about 0.18% of Permian Resources worth $20,953,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Permian Resources during the fourth quarter valued at approximately $431,676,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Permian Resources by 60.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock worth $469,856,000 after acquiring an additional 12,306,854 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Permian Resources by 55.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company's stock worth $169,864,000 after acquiring an additional 4,236,141 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Permian Resources during the fourth quarter worth $57,114,000. Finally, Invesco Ltd. increased its stake in Permian Resources by 56.1% in the 4th quarter. Invesco Ltd. now owns 7,920,750 shares of the company's stock worth $113,900,000 after purchasing an additional 2,845,449 shares in the last quarter. Institutional investors own 91.84% of the company's stock.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, Director William J. Quinn purchased 500,000 shares of the business's stock in a transaction dated 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 completion of the acquisition, the director now directly owns 812,429 shares in the company, valued at $10,618,447.03. This represents a 160.04 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Charles Bell sold 2,804 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the completion of the sale, the executive vice president now owns 74,433 shares in the company, valued at approximately $1,044,294.99. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,685 shares of company stock worth $135,687 over the last ninety days. Company insiders own 6.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Susquehanna dropped their target price on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Truist Financial increased their target price on Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, January 13th. Bank of America reduced their price objective 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. Citigroup downgraded Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Permian Resources currently has an average rating of "Moderate Buy" and an average target price of $18.67.

Permian Resources Stock Up 0.2 %

Permian Resources stock traded up $0.03 during mid-day trading on Friday, hitting $13.04. 9,695,979 shares of the company's stock were exchanged, compared to its average volume of 9,904,710. Permian Resources Co. has a 1-year low of $10.01 and a 1-year high of $16.95. The stock has a 50 day moving average of $12.47 and a two-hundred day moving average of $13.91. 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. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The firm's revenue was up 10.7% on a year-over-year basis. As a group, analysts anticipate that Permian Resources Co. will post 1.45 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 annualized dividend and a yield of 4.60%. Permian Resources's dividend payout ratio (DPR) is presently 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.