Schroder Investment Management Group Sells 554,675 Shares of Permian Resources Corporation $PR

Schroder Investment Management Group decreased its stake in Permian Resources Corporation (NYSE:PR) by 16.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,874,573 shares of the company’s stock after selling 554,675 shares during the period. Schroder Investment Management Group’s holdings in Permian Resources were worth $37,456,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Private Advisor Group LLC lifted its holdings in shares of Permian Resources by 77.1% during the third quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock valued at $327,000 after acquiring an additional 11,109 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in shares of Permian Resources by 310.2% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 72,039 shares of the company’s stock worth $922,000 after purchasing an additional 54,479 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Permian Resources by 26.8% in the 3rd quarter. Natixis Advisors LLC now owns 1,230,781 shares of the company’s stock worth $15,754,000 after purchasing an additional 260,274 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Permian Resources by 24.7% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 13,263,570 shares of the company’s stock worth $169,774,000 after purchasing an additional 2,628,744 shares in the last quarter. Finally, Ramirez Asset Management Inc. increased its position in shares of Permian Resources by 6.4% during the 3rd quarter. Ramirez Asset Management Inc. now owns 177,460 shares of the company’s stock worth $2,271,000 after purchasing an additional 10,660 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Price Performance

Permian Resources stock opened at $19.36 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $16.06 billion, a P/E ratio of 15.49 and a beta of 0.66. The business has a 50-day moving average of $16.29 and a 200-day moving average of $14.51. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $19.43.

Permian Resources (NYSE:PR) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Permian Resources had a net margin of 18.46% and a return on equity of 10.83%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company posted $0.36 EPS. Permian Resources’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities analysts anticipate that Permian Resources Corporation will post 1.45 EPS for the current year.

Permian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.64 annualized dividend and a yield of 3.3%. This is an increase from Permian Resources’s previous quarterly dividend of $0.15. Permian Resources’s payout ratio is presently 51.20%.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP Robert Regan Shannon sold 106,405 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total transaction of $1,450,300.15. Following the completion of the transaction, the executive vice president owned 360,667 shares in the company, valued at approximately $4,915,891.21. This represents a 22.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James H. Walter sold 673,425 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.38, for a total value of $12,377,551.50. Following the completion of the sale, the chief executive officer owned 9,389,405 shares in the company, valued at approximately $172,577,263.90. This trade represents a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,965,093 shares of company stock worth $62,487,101. Company insiders own 6.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Permian Resources from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group raised their price objective on shares of Permian Resources from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup lifted their target price on shares of Permian Resources from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Susquehanna reduced their target price on Permian Resources from $20.00 to $18.00 and set a “positive” rating on the stock in a report on Monday, January 26th. Finally, Mizuho increased their price target on Permian Resources from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and an average target price of $20.00.

About Permian Resources

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.