Cerity Partners LLC Has $9.10 Million Position in Permian Resources Co. (NYSE:PR)

Cerity Partners LLC increased its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 32.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 636,775 shares of the company's stock after acquiring an additional 154,484 shares during the quarter. Cerity Partners LLC owned about 0.08% of Permian Resources worth $9,097,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Permian Resources by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company's stock worth $944,487,000 after purchasing an additional 870,622 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Permian Resources in the 4th quarter valued at approximately $431,676,000. Massachusetts Financial Services Co. MA lifted its stake in Permian Resources by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company's stock valued at $265,209,000 after acquiring an additional 291,444 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Permian Resources by 7.2% during the 4th quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company's stock worth $196,025,000 after acquiring an additional 909,740 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Permian Resources by 1.6% during the 4th quarter. American Century Companies Inc. now owns 11,299,054 shares of the company's stock worth $162,480,000 after acquiring an additional 172,856 shares in the last quarter. Institutional investors own 91.84% of the company's stock.

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Permian Resources Stock Performance

PR stock traded up $0.03 during trading hours on Tuesday, hitting $11.03. 5,460,321 shares of the stock were exchanged, compared to its average volume of 9,610,721. The firm has a market capitalization of $8.86 billion, a P/E ratio of 6.68, a P/E/G 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 company has a 50-day simple moving average of $13.26 and a two-hundred day simple moving average of $14.18. Permian Resources Co. has a 12 month low of $10.01 and a 12 month high of $18.06.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Monday, March 17th. Permian Resources's dividend payout ratio is presently 41.96%.

Insider Transactions 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 transaction of $38,288.62. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William J. Quinn purchased 500,000 shares of Permian Resources stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the transaction, the director now directly owns 812,429 shares in the company, valued at approximately $10,618,447.03. The trade was a 160.04 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 9,685 shares of company stock valued at $135,687. Corporate insiders own 12.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Susquehanna upgraded shares of Permian Resources from a "neutral" rating to a "positive" rating and increased their target price for the stock from $17.00 to $20.00 in a report on Wednesday, March 5th. Morgan Stanley decreased their price objective on Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Royal Bank of Canada dropped their target price on Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a report on Monday. Williams Trading set a $19.00 price target on Permian Resources in a research note on Wednesday, March 5th. Finally, Citigroup cut Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Permian Resources presently has a consensus rating of "Moderate Buy" and an average price target of $18.73.

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.