Permian Resources Co. (NYSE:PR) Shares Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC grew its position in Permian Resources Co. (NYSE:PR) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,391 shares of the company’s stock after acquiring an additional 1,797 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Permian Resources were worth $423,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Principal Securities Inc. boosted its holdings in Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after buying an additional 852 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Permian Resources in the 4th quarter worth about $31,000. Global Retirement Partners LLC boosted its holdings in Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after buying an additional 1,232 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Permian Resources by 33.4% in 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 during the last quarter. Finally, National Bank of Canada FI acquired a new stake in Permian Resources in the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Price Performance

Permian Resources stock opened at $13.32 on Thursday. The company’s 50 day simple moving average is $14.49 and its 200-day simple moving average is $14.36. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 1 year low of $11.84 and a 1 year high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Permian Resources Dividend Announcement

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

Insider Buying and Selling

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the transaction, the chief accounting officer now owns 58,668 shares in the company, valued at $822,525.36. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,446 shares of company stock valued at $269,731 in the last ninety days. Company insiders own 12.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley began coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective for the company. Citigroup lowered shares of Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Piper Sandler decreased their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Williams Trading set a $19.00 target price on shares of Permian Resources in a research note on Wednesday, March 5th. Finally, 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 note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.29.

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.