New Age Alpha Advisors LLC Acquires Shares of 136,181 Permian Resources Co. (NYSE:PR)

New Age Alpha Advisors LLC purchased a new stake in Permian Resources Co. (NYSE:PR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 136,181 shares of the company's stock, valued at approximately $1,958,000.

A number of other institutional investors and hedge funds have also modified their holdings of PR. Kingsview Wealth Management LLC bought a new stake in Permian Resources during the 4th quarter valued at approximately $632,000. Wright Investors Service Inc. acquired a new position in shares of Permian Resources during the fourth quarter worth approximately $498,000. Point72 Asset Management L.P. boosted its position in shares of Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company's stock valued at $74,811,000 after acquiring an additional 2,023,742 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Permian Resources by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company's stock worth $62,407,000 after acquiring an additional 176,320 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in Permian Resources by 36.9% during the 4th quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock valued at $3,881,000 after purchasing an additional 72,726 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, the chief accounting officer now owns 58,668 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Guy M. Oliphint sold 4,150 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the sale, the chief financial officer now owns 130,467 shares of the company's stock, valued at approximately $1,825,233.33. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,685 shares of company stock valued at $135,687. 12.80% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Williams Trading set a $19.00 price target on shares of Permian Resources in a research report on Wednesday, March 5th. Susquehanna raised Permian Resources from a "neutral" rating to a "positive" rating and lifted their target price for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Piper Sandler cut their price target on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Truist Financial lifted their price objective on Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their price objective on Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.13.

Permian Resources Price Performance

Shares of NYSE:PR traded down $1.53 on Friday, hitting $10.74. The stock had a trading volume of 20,220,853 shares, compared to its average volume of 9,504,974. The firm's 50 day moving average price is $13.87 and its 200-day moving average price is $14.34. 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 Co. has a twelve month low of $10.63 and a twelve month high of $18.28. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 6.51, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30.

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 given a $0.15 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 5.59%. Permian Resources's dividend payout ratio (DPR) is presently 41.96%.

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.