Charles Schwab Investment Management Inc. Purchases 176,320 Shares of Permian Resources Co. (NYSE:PR)

Charles Schwab Investment Management Inc. grew its position in shares of Permian Resources Co. (NYSE:PR) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,339,873 shares of the company’s stock after buying an additional 176,320 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.54% of Permian Resources worth $62,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its position 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 worth $2,540,000 after buying an additional 700 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after buying an additional 800 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Permian Resources by 5.4% during the 4th 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 last quarter. Principal Securities Inc. increased its stake in shares of Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after purchasing an additional 852 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Permian Resources by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company’s stock worth $1,862,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Analysts Set New Price Targets

PR has been the subject of several research analyst reports. Susquehanna upgraded shares of Permian Resources from a “neutral” rating to a “positive” rating and raised their price target for the stock from $17.00 to $20.00 in a research note on Wednesday, March 5th. Citigroup lowered shares of Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Truist Financial raised their price target on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Morgan Stanley initiated coverage on shares of Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Finally, Williams Trading set a $19.00 price target on shares of Permian Resources in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.29.

Permian Resources Stock Up 3.5 %

PR opened at $13.32 on Thursday. The company has a fifty day moving average price of $14.49 and a 200-day moving average price of $14.36. The firm has a market capitalization of $10.70 billion, a P/E ratio of 8.07, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a one year low of $11.84 and a one year high of $18.28.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio is currently 41.96%.

Insider Transactions at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the sale, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William J. Quinn purchased 500,000 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the purchase, the director now directly owns 812,429 shares of the company’s stock, valued at $10,618,447.03. The trade was a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 18,446 shares of company stock valued at $269,731. Insiders own 12.80% of the company’s stock.

About Permian Resources

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.