Elo Mutual Pension Insurance Co Invests $512,000 in Permian Resources Co. (NYSE:PR)

Elo Mutual Pension Insurance Co acquired a new stake in shares of Permian Resources Co. (NYSE:PR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 35,576 shares of the company's stock, valued at approximately $512,000.

Other hedge funds also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Permian Resources by 0.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock worth $2,021,000 after acquiring an additional 662 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Permian Resources by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company's stock worth $2,540,000 after purchasing an additional 700 shares during the period. Sunbelt Securities Inc. increased its holdings in Permian Resources by 33.4% in the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock worth $43,000 after purchasing an additional 800 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Permian Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock valued at $226,000 after buying an additional 805 shares during the period. Finally, Principal Securities Inc. boosted its holdings 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 buying an additional 852 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently issued reports on PR shares. Truist Financial increased their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Williams Trading set a $19.00 price target on Permian Resources in a report on Wednesday, March 5th. Morgan Stanley reduced their price objective on Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Citigroup downgraded shares of Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. Finally, Piper Sandler dropped their price objective 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. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $19.13.

Insider Buying and Selling

In other news, EVP John Charles Bell sold 2,804 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the transaction, the executive vice president now owns 74,433 shares in the company, valued at $1,044,294.99. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Quinn purchased 500,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the purchase, 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 disclosure for this purchase can be found here. In the last quarter, insiders have sold 9,685 shares of company stock valued at $135,687. 12.80% of the stock is owned by company insiders.

Permian Resources Stock Performance

NYSE PR traded down $1.53 during trading hours on Friday, reaching $10.74. 20,220,853 shares of the company were exchanged, compared to its average volume of 9,504,974. The stock has a market capitalization of $8.63 billion, a P/E ratio of 6.51, a P/E/G ratio of 4.05 and a beta of 4.30. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 1 year low of $10.63 and a 1 year high of $18.28. The business's 50 day simple moving average is $13.87 and its 200-day simple moving average is $14.34.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 5.59%. Permian Resources's payout ratio is currently 41.96%.

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.