Permian Resources Co. (NYSE:PR) Shares Purchased by Principal Securities Inc.

Principal Securities Inc. grew its holdings in Permian Resources Co. (NYSE:PR) by 73.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,010 shares of the company’s stock after buying an additional 852 shares during the quarter. Principal Securities Inc.’s holdings in Permian Resources were worth $29,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in shares of Permian Resources in the 4th quarter worth $31,000. Sunbelt Securities Inc. raised its position in shares of Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after purchasing an additional 800 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of 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 last quarter. National Bank of Canada FI bought a new stake in shares of Permian Resources in the 3rd quarter worth about $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Permian Resources during the 3rd quarter worth approximately $57,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Permian Resources Stock Up 0.2 %

PR stock opened at $14.09 on Friday. The company’s 50 day moving average is $14.70 and its 200 day moving average is $14.47. 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 stock has a market cap of $11.32 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.26%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio is presently 36.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PR. Truist Financial upped their price objective on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. Morgan Stanley initiated 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. Finally, Piper Sandler increased their price objective on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Insider Activity at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.80% of the stock is currently 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.