Y Intercept Hong Kong Ltd Sells 232,782 Shares of Permian Resources Corporation $PR

Y Intercept Hong Kong Ltd lowered its position in shares of Permian Resources Corporation (NYSE:PR) by 52.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 213,625 shares of the company’s stock after selling 232,782 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Permian Resources were worth $4,554,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC raised its stake in Permian Resources by 24.7% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 13,263,570 shares of the company’s stock worth $169,774,000 after buying an additional 2,628,744 shares in the last quarter. Horizon Investments LLC lifted its holdings in Permian Resources by 80.8% in the fourth quarter. Horizon Investments LLC now owns 420,448 shares of the company’s stock worth $5,899,000 after buying an additional 187,903 shares during the period. UBS Group AG boosted its position in Permian Resources by 39.5% during the 4th quarter. UBS Group AG now owns 6,560,632 shares of the company’s stock valued at $92,046,000 after acquiring an additional 1,858,992 shares in the last quarter. Jennison Associates LLC boosted its position in Permian Resources by 2.8% during the 4th quarter. Jennison Associates LLC now owns 3,818,742 shares of the company’s stock valued at $53,577,000 after acquiring an additional 105,396 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Permian Resources by 55.2% during the 4th quarter. HighTower Advisors LLC now owns 259,403 shares of the company’s stock worth $3,639,000 after acquiring an additional 92,309 shares during the period. Institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PR. Mizuho increased their target price on Permian Resources from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. KeyCorp began coverage on Permian Resources in a research note on Tuesday, April 7th. They issued an “overweight” rating and a $25.00 price target on the stock. BMO Capital Markets raised Permian Resources from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Scotiabank increased their price objective on Permian Resources from $21.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, TD Cowen raised their price objective on Permian Resources from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Permian Resources currently has an average rating of “Buy” and a consensus target price of $23.53.

Insider Transactions at Permian Resources

In other news, EVP Guy M. Oliphint sold 62,769 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total value of $1,282,998.36. Following the transaction, the executive vice president owned 542,503 shares in the company, valued at approximately $11,088,761.32. This represents a 10.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

Permian Resources Trading Down 0.0%

NYSE PR opened at $18.20 on Monday. Permian Resources Corporation has a 12 month low of $11.92 and a 12 month high of $22.67. The stock has a market cap of $15.23 billion, a P/E ratio of 21.16 and a beta of 0.46. The stock’s fifty day moving average price is $19.76 and its 200-day moving average price is $18.18. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.31.

Permian Resources (NYSE:PR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.41 billion. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.Permian Resources’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, equities analysts forecast that Permian Resources Corporation will post 1.97 EPS for the current fiscal year.

Permian Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.5%. Permian Resources’s payout ratio is 74.42%.

Permian Resources 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.