Xponance Inc. Has $1.24 Million Stake in Permian Resources Co. (NYSE:PR)

Xponance Inc. increased its position in Permian Resources Co. (NYSE:PR) by 3.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 86,264 shares of the company’s stock after acquiring an additional 3,180 shares during the period. Xponance Inc.’s holdings in Permian Resources were worth $1,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PR. Principal Securities Inc. lifted its position in shares of Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after buying an additional 852 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Permian Resources in the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its holdings 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. boosted its position in Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after purchasing an additional 2,305 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after purchasing an additional 2,155 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

PR has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective 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. Piper Sandler decreased their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Morgan Stanley began coverage on Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective on the stock. Truist Financial increased their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Williams Trading set a $19.00 price target on Permian Resources in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources currently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

Permian Resources Stock Down 1.3 %

PR opened at $13.79 on Monday. The company has a market capitalization of $11.08 billion, a P/E ratio of 8.35, a P/E/G ratio of 4.05 and a beta of 4.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The firm’s fifty day moving average price is $14.30 and its two-hundred day moving average price is $14.33. Permian Resources Co. has a fifty-two week low of $11.84 and a fifty-two week high of $18.28.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.35%. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

Insider Activity at Permian Resources

In other news, EVP John Charles Bell sold 2,804 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Quinn bought 500,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the transaction, 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 disclosure for this purchase can be found here. Insiders have sold a total of 18,446 shares of company stock valued at $269,731 over the last quarter. 12.80% of the stock is owned by company insiders.

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.