Corebridge Financial Inc. Has $10.38 Million Stock Holdings in Permian Resources Co. (NYSE:PR)

Corebridge Financial Inc. cut its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 721,814 shares of the company's stock after selling 30,411 shares during the period. Corebridge Financial Inc. owned about 0.09% of Permian Resources worth $10,380,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC bought a new position in Permian Resources during the 3rd quarter worth $150,000. Pathstone Holdings LLC boosted its holdings in shares of Permian Resources by 29.8% during the third quarter. Pathstone Holdings LLC now owns 145,193 shares of the company's stock valued at $1,976,000 after acquiring an additional 33,320 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Permian Resources by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,163,553 shares of the company's stock worth $56,666,000 after acquiring an additional 457,478 shares during the last quarter. Raymond James Trust N.A. bought a new position in shares of Permian Resources during the third quarter worth about $216,000. Finally, Cerity Partners LLC increased its holdings in shares of Permian Resources by 13.7% in the 3rd quarter. Cerity Partners LLC now owns 482,291 shares of the company's stock worth $6,564,000 after acquiring an additional 58,238 shares during the period. Institutional investors own 91.84% of the company's stock.

Permian Resources Price Performance

Shares of NYSE PR traded up $0.09 during mid-day trading on Monday, reaching $13.84. The company had a trading volume of 8,176,030 shares, compared to its average volume of 9,440,438. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 1-year low of $11.84 and a 1-year high of $18.28. The stock has a market cap of $11.12 billion, a PE ratio of 8.39, a P/E/G ratio of 4.05 and a beta of 4.30. The company has a 50-day moving average price of $14.10 and a two-hundred day moving average price of $14.37.

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Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources's dividend payout ratio is 41.96%.

Insiders Place Their Bets

In other news, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction 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 transaction, the chief accounting officer now directly owns 58,668 shares in the company, 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 is available at this link. Also, EVP John Charles Bell sold 2,804 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total value of $39,340.12. Following the sale, the executive vice president now owns 74,433 shares of the company's stock, valued at approximately $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. In the last three months, insiders have sold 18,446 shares of company stock worth $269,731. Corporate insiders own 12.80% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on PR. JPMorgan Chase & Co. decreased their target price on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Piper Sandler decreased their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Morgan Stanley cut their target price on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday. Williams Trading set a $19.00 price target on Permian Resources in a research note on Wednesday, March 5th. Finally, Citigroup lowered Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $19.31.

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.