Permian Resources Co. (NYSE:PR) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in Permian Resources Co. (NYSE:PR - Free Report) by 55.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,813,363 shares of the company's stock after purchasing an additional 4,236,141 shares during the quarter. Dimensional Fund Advisors LP owned about 1.47% of Permian Resources worth $169,864,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PR. Vanguard Group Inc. lifted its holdings in shares of Permian Resources by 1.3% during the fourth 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 during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Permian Resources during the 4th quarter valued at approximately $431,676,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Permian Resources by 7.2% in the fourth 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 period. Finally, American Century Companies Inc. raised its holdings in shares of Permian Resources by 1.6% during the fourth quarter. American Century Companies Inc. now owns 11,299,054 shares of the company's stock worth $162,480,000 after purchasing an additional 172,856 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Permian Resources Trading Down 1.3 %

NYSE:PR traded down $0.17 during trading hours on Tuesday, hitting $12.23. The company had a trading volume of 2,219,725 shares, compared to its average volume of 9,702,816. Permian Resources Co. has a 1 year low of $10.01 and a 1 year high of $17.62. The company has a market cap of $9.82 billion, a P/E ratio of 7.40, a P/E/G ratio of 4.05 and a beta of 3.81. The company has a 50-day moving average of $12.75 and a 200 day moving average of $14.02. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors 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 4.91%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources's dividend payout ratio is currently 41.96%.

Insider Buying and Selling

In related news, CFO Guy M. Oliphint sold 4,150 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.99, for a total transaction of $58,058.50. Following the completion of the sale, the chief financial officer now directly owns 130,467 shares of the company's stock, valued at approximately $1,825,233.33. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J. Quinn bought 500,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was bought at an average cost 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 of the company's stock, valued at $10,618,447.03. The trade was a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 9,685 shares of company stock worth $135,687. Insiders own 12.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PR shares. 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, March 6th. Royal Bank of Canada lowered their target price on Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. reduced their price target on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Morgan Stanley lowered their price objective on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, Bank of America cut their target price on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.67.

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.