Permian Resources Co. (NYSE:PR) Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its stake in Permian Resources Co. (NYSE:PR - Free Report) by 4.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,474,639 shares of the company's stock after buying an additional 240,192 shares during the quarter. King Luther Capital Management Corp owned approximately 0.68% of Permian Resources worth $78,725,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Securities Inc. increased its holdings 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 worth $29,000 after purchasing an additional 852 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in Permian Resources in the 4th quarter worth approximately $31,000. Global Retirement Partners LLC raised its holdings in shares of 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 in the last quarter. Lindbrook Capital LLC boosted its position in shares of Permian Resources by 294.8% during the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after acquiring an additional 2,155 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in shares of Permian Resources by 33.4% in the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock valued at $43,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 91.84% of the company's stock.

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Permian Resources Stock Up 4.5 %

PR stock traded up $0.59 during trading on Wednesday, hitting $13.45. 9,201,244 shares of the company's stock traded hands, compared to its average volume of 8,674,660. The firm has a market capitalization of $10.80 billion, a P/E ratio of 8.15, a PEG ratio of 4.05 and a beta of 4.30. The business has a fifty day simple moving average of $14.51 and a two-hundred day simple moving average of $14.37. Permian Resources Co. has a 1 year low of $11.84 and a 1 year high of $18.28. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.46%. Permian Resources's payout ratio is 41.96%.

Insider Activity at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 2,804 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total transaction of $39,340.12. Following the transaction, the executive vice president now directly owns 74,433 shares of the company's stock, valued at $1,044,294.99. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Guy M. Oliphint sold 8,761 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares of the company's stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,446 shares of company stock valued at $269,731 in the last ninety days. Company insiders own 12.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PR. Citigroup cut Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Truist Financial increased their price target on Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, January 13th. Piper Sandler lowered their price target 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. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research report on Wednesday, March 5th. Finally, Susquehanna upgraded shares of Permian Resources from a "neutral" rating to a "positive" rating and raised their target price for the stock from $17.00 to $20.00 in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.29.

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.