SIR Capital Management L.P. Trims Stock Position in Permian Resources Co. (NYSE:PR)

SIR Capital Management L.P. decreased its holdings in shares of Permian Resources Co. (NYSE:PR - Free Report) by 37.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,479,177 shares of the company's stock after selling 1,474,540 shares during the period. Permian Resources comprises 3.7% of SIR Capital Management L.P.'s portfolio, making the stock its 3rd biggest holding. SIR Capital Management L.P. owned about 0.31% of Permian Resources worth $35,651,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Securities Inc. grew its holdings in 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 acquiring an additional 852 shares during the last quarter. Global Retirement Partners LLC raised its position in Permian Resources by 98.4% in 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 holdings in 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 buying an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC bought a new position in Permian Resources in the 4th quarter valued at $41,000. Finally, Lindbrook Capital LLC increased its stake in shares of Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after buying an additional 2,155 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PR. Williams Trading set a $19.00 target price on Permian Resources in a report on Wednesday, March 5th. Susquehanna reduced their price objective on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Bank of America decreased their price objective on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Piper Sandler cut their target price on shares of Permian Resources from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, UBS Group upped their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.63.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at approximately $822,525.36. This trade represents a 4.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Guy M. Oliphint sold 4,150 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the sale, the chief financial officer now directly owns 130,467 shares in the company, valued at $1,825,233.33. This trade represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,685 shares of company stock valued at $135,687 in the last three months. Corporate insiders own 6.44% of the company's stock.

Permian Resources Stock Down 1.6%

PR traded down $0.22 during trading on Wednesday, reaching $13.04. 4,038,626 shares of the stock were exchanged, compared to its average volume of 9,685,239. The stock has a market cap of $10.48 billion, a P/E ratio of 7.93, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20. The stock's 50 day moving average price is $12.59 and its two-hundred day moving average price is $13.90. Permian Resources Co. has a twelve month low of $10.01 and a twelve month high of $16.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company posted $0.25 EPS. The firm's revenue was up 10.7% on a year-over-year basis. Equities analysts expect that Permian Resources Co. will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio is currently 37.04%.

Permian Resources 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.