130,805 Shares in Permian Resources Co. (NYSE:PR) Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Permian Resources Co. (NYSE:PR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 130,805 shares of the company's stock, valued at approximately $1,881,000.

Other large investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new stake in Permian Resources in the fourth quarter worth $632,000. Wright Investors Service Inc. bought a new position in shares of Permian Resources in the fourth quarter worth $498,000. 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 purchasing an additional 176,320 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Permian Resources by 36.9% in the fourth quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock worth $3,881,000 after purchasing an additional 72,726 shares in the last quarter. Finally, Perpetual Ltd bought a new position in shares of Permian Resources in the fourth quarter worth $27,104,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Trading Up 0.5 %

PR traded up $0.06 during trading on Friday, reaching $12.26. The company had a trading volume of 6,323,320 shares, compared to its average volume of 9,739,138. The firm's 50-day simple moving average is $12.79 and its 200 day simple moving average is $14.03. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $17.62. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources's dividend payout ratio (DPR) is 41.96%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PR shares. Williams Trading set a $19.00 price target on Permian Resources in a research note on Wednesday, March 5th. Truist Financial increased their price target on Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Susquehanna decreased their price target on Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Bank of America decreased their price target on Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Piper Sandler lowered their target price on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $18.67.

Insider Activity at Permian Resources

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 value of $38,288.62. Following the completion of the sale, the chief accounting officer now directly owns 58,668 shares of the company's stock, valued at $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John Charles Bell sold 2,804 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the completion of the sale, the executive vice president now directly owns 74,433 shares of the company's stock, valued at $1,044,294.99. This represents a 3.63 % 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. Corporate insiders own 12.80% of the company's stock.

Permian Resources Company 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.