Creative Financial Designs Inc. ADV Takes Position in Permian Resources Co. (NYSE:PR)

Creative Financial Designs Inc. ADV purchased a new position in Permian Resources Co. (NYSE:PR - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 63,075 shares of the company's stock, valued at approximately $907,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Securities Inc. grew its stake in Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Permian Resources in the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its position in Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock worth $36,000 after acquiring an additional 1,232 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after purchasing an additional 2,305 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock worth $42,000 after buying an additional 2,155 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director William J. Quinn bought 500,000 shares of the business's stock in a transaction dated 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 purchase, the director now owns 812,429 shares in the company, valued at $10,618,447.03. This represents a 160.04 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Guy M. Oliphint sold 8,761 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the sale, the chief financial officer now owns 134,617 shares of the company's stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,446 shares of company stock valued at $269,731. 12.80% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

Several brokerages have issued reports on PR. Truist Financial boosted their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, January 13th. Williams Trading set a $19.00 price objective on Permian Resources in a research note on Wednesday, March 5th. Citigroup cut shares of Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Piper Sandler lowered their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Finally, Morgan Stanley initiated coverage on Permian Resources in a research note on Friday, January 10th. They issued an "overweight" rating and a $19.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Permian Resources currently has an average rating of "Moderate Buy" and a consensus price target of $19.35.

Permian Resources Stock Down 1.3 %

NYSE:PR traded down $0.19 on Friday, hitting $13.79. 10,209,633 shares of the company's stock were exchanged, compared to its average volume of 9,245,364. Permian Resources Co. has a 52 week low of $11.84 and a 52 week high of $18.28. The company has a market cap of $11.08 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a 50-day moving average price of $14.33 and a 200-day moving average price of $14.33.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources's dividend payout ratio is currently 41.96%.

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.