Leeward Investments LLC MA Sells 82,618 Shares of Permian Resources Corporation $PR

Leeward Investments LLC MA trimmed its position in Permian Resources Corporation (NYSE:PR) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,792,205 shares of the company’s stock after selling 82,618 shares during the period. Permian Resources accounts for about 1.9% of Leeward Investments LLC MA’s portfolio, making the stock its 5th largest position. Leeward Investments LLC MA’s holdings in Permian Resources were worth $37,851,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Permian Resources during the 1st quarter worth approximately $121,041,000. Jennison Associates LLC raised its position in shares of Permian Resources by 63.1% during the 1st quarter. Jennison Associates LLC now owns 6,230,034 shares of the company’s stock valued at $132,824,000 after buying an additional 2,411,292 shares during the period. First Trust Advisors LP raised its position in shares of Permian Resources by 66.6% during the 1st quarter. First Trust Advisors LP now owns 5,564,528 shares of the company’s stock valued at $118,636,000 after buying an additional 2,224,560 shares during the period. Encompass Capital Advisors LLC acquired a new position in Permian Resources in the first quarter valued at approximately $34,065,000. Finally, Keybank National Association OH acquired a new position in Permian Resources in the first quarter valued at approximately $30,728,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, EVP Guy M. Oliphint sold 5,103 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $121,196.25. Following the sale, the executive vice president owned 537,400 shares of the company’s stock, valued at $12,763,250. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Robert Shannon sold 5,104 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $23.75, for a total value of $121,220.00. Following the transaction, the executive vice president owned 1,346,698 shares in the company, valued at $31,984,077.50. This trade represents a 0.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 15,699 shares of company stock valued at $372,851. Company insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Permian Resources from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Citigroup raised their target price on Permian Resources from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Wells Fargo & Company lifted their target price on Permian Resources from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, October 14th. UBS Group upped their price target on Permian Resources from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Finally, Morgan Stanley upped their price target on Permian Resources from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Five equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $26.39.

Permian Resources Trading Up 0.2%

Shares of PR stock opened at $25.54 on Monday. Permian Resources Corporation has a 1-year low of $12.06 and a 1-year high of $25.68. The firm has a market cap of $21.39 billion, a PE ratio of 16.92 and a beta of 0.66. The company has a 50-day moving average of $23.14 and a two-hundred day moving average of $21.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.62 and a quick ratio of 0.62.

Permian Resources (NYSE:PR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.66 billion. Permian Resources had a net margin of 21.52% and a return on equity of 13.47%. The business’s revenue was up 55.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. On average, analysts predict that Permian Resources Corporation will post 2.43 EPS for the current year.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.5%. Permian Resources’s dividend payout ratio (DPR) is presently 42.38%.

Permian Resources Profile

Permian Resources Corporation (NYSE: PR) is an independent oil and natural gas company focused on the acquisition, development, and production of hydrocarbons in the Permian Basin. Its operations are concentrated in the Delaware Basin, a prolific oil-producing region spanning southeastern New Mexico and West Texas.

The company’s production portfolio includes crude oil, natural gas, and natural gas liquids. Permian Resources develops its acreage through horizontal drilling and multi-well development programs, with activities that include drilling, completion, production, and infrastructure management.