DRW Securities LLC acquired a new position in shares of Permian Resources Co. (NYSE:PR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 111,200 shares of the company's stock, valued at approximately $1,599,000.
Several other hedge funds and other institutional investors have also made changes to their positions in PR. Principal Securities Inc. grew its holdings 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 purchasing an additional 852 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of Permian Resources during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC raised its holdings in shares of Permian Resources by 98.4% in the fourth 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 period. Rakuten Securities Inc. lifted its stake in shares of Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after acquiring an additional 2,305 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Permian Resources by 294.8% during the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after acquiring an additional 2,155 shares during the period. Hedge funds and other institutional investors own 91.84% of the company's stock.
Analyst Ratings Changes
PR has been the subject of a number of recent analyst reports. Citigroup lowered shares of Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Royal Bank of Canada dropped their target price on shares of Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday. Morgan Stanley lowered their price target on Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Williams Trading set a $19.00 price objective on Permian Resources in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their target price on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Permian Resources currently has a consensus rating of "Moderate Buy" and an average target price of $18.73.
View Our Latest Analysis on PR
Insider Activity
In related news, Director William J. Quinn acquired 500,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the acquisition, the director now directly owns 812,429 shares in the company, valued at $10,618,447.03. This represents a 160.04 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,685 shares of company stock valued at $135,687. Company insiders own 12.80% of the company's stock.
Permian Resources Stock Down 0.8 %
Shares of PR stock traded down $0.09 during trading hours on Monday, reaching $10.95. 2,887,515 shares of the company's stock were exchanged, compared to its average volume of 9,604,782. The stock has a market cap of $8.80 billion, a PE ratio of 6.64, a PEG ratio of 4.05 and a beta of 3.81. 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's fifty day moving average price is $13.33 and its two-hundred day moving average price is $14.20. Permian Resources Co. has a 1 year low of $10.01 and a 1 year high of $18.06.
Permian Resources Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 5.48%. Permian Resources's payout ratio is presently 41.96%.
About Permian Resources
(
Free Report)
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.
Further Reading
Before you consider Permian Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Permian Resources wasn't on the list.
While Permian Resources currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Like this article? Share it with a colleague.
Link copied to clipboard.
