Permian Resources Co. (NYSE:PR) Stock Position Boosted by Sagefield Capital LP

Sagefield Capital LP grew its stake in Permian Resources Co. (NYSE:PR - Free Report) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,265,181 shares of the company's stock after purchasing an additional 31,629 shares during the quarter. Permian Resources comprises about 6.8% of Sagefield Capital LP's holdings, making the stock its 3rd biggest holding. Sagefield Capital LP owned about 0.53% of Permian Resources worth $61,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PR. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Permian Resources by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock worth $2,021,000 after purchasing an additional 662 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Permian Resources by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company's stock worth $2,540,000 after buying an additional 700 shares during the period. CIBC Asset Management Inc increased its stake in shares of Permian Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock worth $226,000 after acquiring an additional 805 shares in the last quarter. Principal Securities Inc. lifted its position in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after acquiring an additional 852 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Permian Resources by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company's stock worth $1,862,000 after purchasing an additional 900 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Stock Performance

PR traded down $0.13 during midday trading on Thursday, hitting $12.85. 4,849,320 shares of the company traded hands, compared to its average volume of 9,687,432. The company's 50-day moving average is $12.58 and its 200 day moving average is $13.89. Permian Resources Co. has a 52 week low of $10.01 and a 52 week high of $16.95. The firm has a market capitalization of $10.32 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 4.05 and a beta of 1.20. The company has a quick ratio of 0.68, a current 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 for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company earned $0.25 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts expect that Permian Resources Co. will post 1.45 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Monday, June 16th. Permian Resources's dividend payout ratio is 37.04%.

Insiders Place Their Bets

In related news, CFO Guy M. Oliphint sold 4,150 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the sale, the chief financial officer now owns 130,467 shares in the company, valued at approximately $1,825,233.33. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J. Quinn acquired 500,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the purchase, the director now directly owns 812,429 shares in the company, valued at approximately $10,618,447.03. The trade was a 160.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 9,685 shares of company stock valued at $135,687. Insiders own 6.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PR shares. Piper Sandler lowered their target price on shares of Permian Resources from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their price objective on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. The Goldman Sachs Group boosted their target price on Permian Resources from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, May 16th. UBS Group raised their price target on Permian Resources from $14.00 to $16.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Raymond James reiterated a "strong-buy" rating and issued a $23.00 price target (up previously from $20.00) on shares of Permian Resources in a research note on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Permian Resources has an average rating of "Moderate Buy" and a consensus price target of $18.63.

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.