Bryce Point Capital LLC Makes New Investment in Permian Resources Co. (NYSE:PR)

Bryce Point Capital LLC purchased a new stake in shares of Permian Resources Co. (NYSE:PR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 101,120 shares of the company’s stock, valued at approximately $1,454,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. boosted its holdings in shares of Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares during the period. ORG Wealth Partners LLC bought a new position in Permian Resources in the 4th quarter worth about $31,000. Global Retirement Partners LLC grew its holdings in Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after buying an additional 1,232 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after buying an additional 2,305 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in shares of Permian Resources by 294.8% in the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after buying an additional 2,155 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Activity

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Quinn bought 500,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $13.07 per share, for a total transaction of $6,535,000.00. Following the purchase, the director now directly owns 812,429 shares in the company, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 18,446 shares of company stock valued at $269,731. 12.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on PR shares. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $17.00 to $20.00 in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Bank of America dropped their price objective on Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday. Piper Sandler dropped their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Citigroup cut shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Permian Resources Stock Performance

NYSE PR opened at $13.80 on Wednesday. The firm has a market cap of $11.08 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 4.05 and a beta of 4.30. The company has a 50-day simple moving average of $14.06 and a two-hundred day simple moving average of $14.37. 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 12-month low of $11.84 and a 12-month high of $18.28.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.35%. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

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.