Dana Investment Advisors Inc. Has $8.06 Million Stock Position in Permian Resources Co. (NYSE:PR)

Dana Investment Advisors Inc. reduced its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 560,163 shares of the company's stock after selling 32,296 shares during the quarter. Dana Investment Advisors Inc. owned about 0.07% of Permian Resources worth $8,055,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Principal Securities Inc. boosted 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 valued at $29,000 after purchasing an additional 852 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Permian Resources in the fourth quarter valued at about $31,000. Global Retirement Partners LLC grew its position in Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock worth $36,000 after buying an additional 1,232 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock valued at $43,000 after acquiring an additional 800 shares during the period. Finally, National Bank of Canada FI acquired a new position in Permian Resources in the 3rd quarter valued at approximately $45,000. 91.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup decreased their price objective on Permian Resources from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Piper Sandler lowered their price target on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday. Susquehanna upgraded shares of Permian Resources from a "neutral" rating to a "positive" rating and increased their price objective for the company from $17.00 to $20.00 in a research note on Wednesday. Truist Financial lifted their target price on shares of Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Finally, Morgan Stanley assumed coverage on shares of Permian Resources in a research report on Friday, January 10th. They issued an "overweight" rating and a $19.00 price target for the company. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Permian Resources presently has an average rating of "Buy" and an average target price of $19.31.

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Permian Resources Price Performance

Permian Resources stock traded up $0.24 on Friday, reaching $12.68. The company's stock had a trading volume of 9,332,894 shares, compared to its average volume of 8,506,802. Permian Resources Co. has a twelve month low of $11.84 and a twelve month high of $18.28. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 4.05 and a beta of 4.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The business's fifty day moving average price is $14.58 and its 200 day moving average price is $14.39.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.73%. The ex-dividend date is Monday, March 17th. Permian Resources's payout ratio is presently 41.96%.

Insiders Place Their Bets

In related news, CFO Guy M. Oliphint sold 8,761 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares in the company, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Quinn acquired 500,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the transaction, the director now owns 812,429 shares of the company's stock, valued at approximately $10,618,447.03. This trade represents a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 18,446 shares of company stock valued at $269,731. 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.