Permian Resources Co. (NYSE:PR) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its holdings in shares of Permian Resources Co. (NYSE:PR - Free Report) by 54.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 714,500 shares of the company's stock after purchasing an additional 252,500 shares during the period. Canada Pension Plan Investment Board owned approximately 0.09% of Permian Resources worth $10,275,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in 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 purchasing an additional 662 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Permian Resources by 0.4% in 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 in the last quarter. CIBC Asset Management Inc raised its holdings in Permian Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock valued at $226,000 after acquiring an additional 805 shares during the period. Principal Securities Inc. lifted its holdings in Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after purchasing an additional 852 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Permian Resources by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company's stock valued at $1,862,000 after acquiring an additional 900 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

Permian Resources Stock Up 0.5 %

NYSE PR traded up $0.06 on Friday, hitting $12.26. The stock had a trading volume of 6,323,320 shares, compared to its average volume of 9,703,291. The business's fifty day moving average price is $12.84 and its 200 day moving average price is $14.05. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a 52-week low of $10.01 and a 52-week high of $17.62.

Permian Resources Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley lowered 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. JPMorgan Chase & Co. cut their price target on Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Truist Financial upped their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Bank of America cut their target price on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Finally, Piper Sandler lowered their price target on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $18.67.

Insider Buying and Selling at Permian Resources

In related news, Director William J. Quinn purchased 500,000 shares of the business's stock in a transaction 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 purchase, the director now owns 812,429 shares of the company's stock, valued at $10,618,447.03. This trade represents a 160.04 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Charles Bell sold 2,804 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 74,433 shares of the company's stock, valued at approximately $1,044,294.99. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,685 shares of company stock worth $135,687. 12.80% of the stock is owned by insiders.

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.