Permian Resources Corporation $PR Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in shares of Permian Resources Corporation (NYSE:PR) by 10.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,691,288 shares of the company’s stock after selling 195,650 shares during the quarter. Sei Investments Co. owned 0.20% of Permian Resources worth $36,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. SHP Wealth Management acquired a new stake in Permian Resources in the fourth quarter worth about $27,000. SJS Investment Consulting Inc. increased its holdings in shares of Permian Resources by 1,862.5% during the first quarter. SJS Investment Consulting Inc. now owns 1,413 shares of the company’s stock valued at $30,000 after acquiring an additional 1,341 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Permian Resources in the 4th quarter valued at approximately $39,000. State of Wyoming raised its position in shares of Permian Resources by 126.8% in the 4th quarter. State of Wyoming now owns 2,933 shares of the company’s stock valued at $41,000 after purchasing an additional 1,640 shares during the last quarter. Finally, Cedar Mountain Advisors LLC acquired a new stake in Permian Resources in the 1st quarter worth approximately $48,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Stock Performance

Shares of PR stock opened at $21.34 on Monday. Permian Resources Corporation has a 52-week low of $11.92 and a 52-week high of $22.67. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.31. The stock has a market cap of $17.87 billion, a PE ratio of 24.82 and a beta of 0.46. The business has a 50-day simple moving average of $19.51 and a 200-day simple moving average of $18.81.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Permian Resources Corporation will post 1.94 EPS for the current year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Permian Resources’s dividend payout ratio is presently 74.42%.

Analyst Upgrades and Downgrades

PR has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of Permian Resources from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Zacks Research lowered shares of Permian Resources from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Weiss Ratings downgraded Permian Resources from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, July 15th. Evercore initiated coverage on Permian Resources in a research note on Tuesday, June 23rd. They issued an “outperform” rating and a $25.00 target price for the company. Finally, Morgan Stanley lowered their price target on Permian Resources from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $23.29.

Insider Buying and Selling at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of Permian Resources stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the completion of the transaction, the executive vice president owned 542,503 shares in the company, valued at $11,088,761.32. The trade was a 10.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is currently owned by corporate insiders.

Permian Resources Company Profile

Permian Resources (NYSE: PR) is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.