Permian Resources Co. (NASDAQ:PR) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lessened its position in shares of Permian Resources Co. (NASDAQ:PRFree Report) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,035,975 shares of the company’s stock after selling 469,216 shares during the quarter. Schroder Investment Management Group owned approximately 0.54% of Permian Resources worth $42,382,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Kennedy Capital Management LLC grew its holdings in shares of Permian Resources by 6.6% during the third quarter. Kennedy Capital Management LLC now owns 985,335 shares of the company’s stock worth $13,755,000 after buying an additional 60,857 shares in the last quarter. KGH Ltd acquired a new position in shares of Permian Resources during the 3rd quarter worth approximately $21,638,000. Legal & General Group Plc grew its position in shares of Permian Resources by 71.1% in the third quarter. Legal & General Group Plc now owns 401,412 shares of the company’s stock valued at $5,604,000 after purchasing an additional 166,864 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Permian Resources by 43.3% during the third quarter. Ameriprise Financial Inc. now owns 1,957,320 shares of the company’s stock worth $27,324,000 after buying an additional 591,498 shares in the last quarter. Finally, Glenmede Trust Co. NA acquired a new position in Permian Resources during the third quarter worth $1,096,000. 53.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director William J. Quinn sold 18,076,849 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $15.71, for a total value of $283,987,297.79. Following the transaction, the director now owns 71,056,620 shares in the company, valued at $1,116,299,500.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Permian Resources news, Director Robert John Anderson sold 400,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $13.41, for a total transaction of $5,364,000.00. Following the completion of the sale, the director now directly owns 1,594,667 shares in the company, valued at approximately $21,384,484.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J. Quinn sold 18,076,849 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 26,333,426 shares of company stock worth $391,560,856 over the last ninety days. Insiders own 23.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PR. Bank of America started coverage on shares of Permian Resources in a research report on Friday, January 5th. They set a “neutral” rating and a $15.00 price target on the stock. Benchmark lifted their target price on Permian Resources from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler lifted their price objective on shares of Permian Resources from $17.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a report on Tuesday. Finally, Citigroup lifted their price objective on shares of Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Check Out Our Latest Report on Permian Resources

Permian Resources Trading Up 1.8 %

Shares of PR stock opened at $15.91 on Friday. 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’s fifty day simple moving average is $13.98 and its 200 day simple moving average is $13.81. Permian Resources Co. has a 1 year low of $8.94 and a 1 year high of $16.31. The firm has a market capitalization of $12.31 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 1.29 and a beta of 4.35.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Tuesday, March 12th. Permian Resources’s dividend payout ratio (DPR) is currently 17.24%.

Permian Resources Profile

(Free Report)

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. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company's properties consist of acreage blocks in Reeves County, West Texas and Lea County, New Mexico.

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Institutional Ownership by Quarter for Permian Resources (NASDAQ:PR)

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