Sanctuary Advisors LLC Acquires 1,907 Shares of Permian Resources Co. (NYSE:PR)

Sanctuary Advisors LLC lifted its holdings in shares of Permian Resources Co. (NYSE:PR) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 49,310 shares of the company’s stock after purchasing an additional 1,907 shares during the period. Sanctuary Advisors LLC’s holdings in Permian Resources were worth $742,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. boosted its position in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after buying an additional 852 shares during the period. ORG Wealth Partners LLC purchased a new stake in Permian Resources during the 4th quarter valued at $31,000. Sunbelt Securities Inc. boosted its position in Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after buying an additional 800 shares during the period. Blue Trust Inc. boosted its position in Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after buying an additional 2,629 shares during the period. Finally, National Bank of Canada FI purchased a new stake in Permian Resources during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PR shares. Piper Sandler raised their target price on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Truist Financial raised their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Morgan Stanley started coverage on shares of Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price for the company. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Permian Resources Stock Up 0.2 %

Shares of Permian Resources stock opened at $14.09 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The company has a 50-day moving average of $14.70 and a 200 day moving average of $14.47. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 4.05 and a beta of 4.28. Permian Resources Co. has a 1 year low of $12.62 and a 1 year high of $18.28.

Permian Resources Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 4.26%. Permian Resources’s dividend payout ratio is currently 36.36%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction dated 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 directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.80% of the stock is owned by company insiders.

Permian Resources 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.