Great Lakes Advisors LLC Sells 24,301 Shares of Permian Resources Co. (NYSE:PR)

Great Lakes Advisors LLC cut its position in Permian Resources Co. (NYSE:PR - Free Report) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,764 shares of the company's stock after selling 24,301 shares during the quarter. Great Lakes Advisors LLC's holdings in Permian Resources were worth $3,074,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. increased its stake in shares of 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 buying an additional 852 shares during the period. ORG Wealth Partners LLC acquired a new stake in Permian Resources during the fourth quarter worth approximately $31,000. Global Retirement Partners LLC grew its stake 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 purchasing an additional 1,232 shares during the period. Lindbrook Capital LLC grew its stake in 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 purchasing an additional 2,155 shares during the period. Finally, Sunbelt Securities Inc. grew 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 worth $43,000 after purchasing an additional 800 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Trading Up 4.0 %

NYSE PR traded up $0.54 on Wednesday, hitting $14.10. The company's stock had a trading volume of 9,699,234 shares, compared to its average volume of 8,646,410. The firm has a market cap of $11.33 billion, a P/E ratio of 8.55, a PEG ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 52-week low of $11.84 and a 52-week high of $18.28. 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's 50-day simple moving average is $14.37 and its 200 day simple moving average is $14.33.

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Permian Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.26%. Permian Resources's dividend payout ratio (DPR) is currently 41.96%.

Wall Street Analyst Weigh In

PR has been the topic of several recent research reports. Williams Trading set a $19.00 price target on Permian Resources in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Citigroup lowered Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. Piper Sandler dropped their target price on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley began coverage on Permian Resources in a report on Friday, January 10th. They set an "overweight" rating and a $19.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $19.35.

Insider Transactions at Permian Resources

In other Permian Resources news, Director William J. Quinn purchased 500,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the acquisition, the director now directly owns 812,429 shares in the company, valued at $10,618,447.03. The trade was a 160.04 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,446 shares of company stock worth $269,731 in the last ninety days. 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.