Truist Financial Corp Has $1.75 Million Holdings in Permian Resources Co. (NYSE:PR)

Truist Financial Corp trimmed its position in shares of Permian Resources Co. (NYSE:PR) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,428 shares of the company’s stock after selling 4,171 shares during the quarter. Truist Financial Corp’s holdings in Permian Resources were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PR. Louisiana State Employees Retirement System increased its holdings in shares of Permian Resources by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock valued at $2,540,000 after acquiring an additional 700 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after purchasing an additional 800 shares during the period. CIBC Asset Management Inc boosted its position in Permian Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company’s stock worth $226,000 after purchasing an additional 805 shares during the period. Principal Securities Inc. raised its position 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 valued at $29,000 after purchasing an additional 852 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Permian Resources by 28.6% in the fourth quarter. Blue Trust Inc. now owns 4,226 shares of the company’s stock worth $58,000 after buying an additional 939 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

PR has been the topic of a number of research analyst reports. Piper Sandler raised their target price on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley began coverage on Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target on the stock. Finally, Truist Financial lifted their price objective on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.13.

Insider Buying and Selling at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.80% of the company’s stock.

Permian Resources Trading Up 0.1 %

PR stock opened at $14.04 on Friday. Permian Resources Co. has a 1-year low of $12.62 and a 1-year high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $14.69 and its 200-day moving average is $14.47. The firm has a market cap of $11.28 billion, a P/E ratio of 8.51, a P/E/G ratio of 4.05 and a beta of 4.28.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.28%. Permian Resources’s dividend payout ratio is currently 36.36%.

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.