XTX Topco Ltd Lowers Stock Holdings in Permian Resources Co. (NYSE:PR)

XTX Topco Ltd lowered its stake in Permian Resources Co. (NYSE:PR) by 80.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 29,852 shares of the company’s stock after selling 121,758 shares during the quarter. XTX Topco Ltd’s holdings in Permian Resources were worth $406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tributary Capital Management LLC increased its holdings in shares of Permian Resources by 8,360.8% during the third quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock valued at $699,000 after acquiring an additional 50,750 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Permian Resources by 58.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after purchasing an additional 2,023,742 shares in the last quarter. South Street Advisors LLC purchased a new position in Permian Resources in the third quarter worth about $7,142,000. Oppenheimer Asset Management Inc. bought a new position in shares of Permian Resources in the third quarter worth approximately $556,000. Finally, King Luther Capital Management Corp grew its holdings in shares of Permian Resources by 8.3% during the third quarter. King Luther Capital Management Corp now owns 5,234,447 shares of the company’s stock valued at $71,241,000 after buying an additional 402,515 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

Shares of PR opened at $14.68 on Monday. The business has a 50-day simple moving average of $14.67 and a two-hundred day simple moving average of $14.82. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 52 week low of $12.59 and a 52 week high of $18.28. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 0.88 and a beta of 4.35.

Permian Resources (NYSE:PR) last released its earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The firm’s revenue was up 60.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. On average, analysts expect that Permian Resources Co. will post 1.47 EPS for the current year.

Permian Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were paid a dividend of $0.15 per share. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, November 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.09%. Permian Resources’s payout ratio is 36.36%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective on Permian Resources from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. UBS Group dropped their price objective on Permian Resources from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna decreased their target price on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Benchmark dropped their price target on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group assumed coverage on shares of Permian Resources in a report on Monday, September 30th. They set a “buy” rating and a $19.00 price objective for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.93.

Permian Resources Company Profile

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.