Ranger Investment Management L.P. Has $34.71 Million Stake in Permian Resources Co. (NYSE:PR)

Ranger Investment Management L.P. lessened its position in Permian Resources Co. (NYSE:PR - Free Report) by 33.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,414,008 shares of the company's stock after selling 1,232,537 shares during the period. Permian Resources makes up 2.2% of Ranger Investment Management L.P.'s investment portfolio, making the stock its 11th largest holding. Ranger Investment Management L.P. owned 0.30% of Permian Resources worth $34,713,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PR. Principal Securities Inc. increased its holdings 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 buying an additional 852 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Permian Resources in the 4th quarter worth approximately $31,000. Global Retirement Partners LLC grew its holdings in shares of Permian Resources by 98.4% in 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 period. Rakuten Securities Inc. increased its stake in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after purchasing an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings 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 last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

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Insider Activity

In related news, CAO Robert Regan Shannon sold 2,731 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the sale, the chief accounting officer now directly owns 58,668 shares of the company's stock, valued at approximately $822,525.36. This represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Guy M. Oliphint sold 4,150 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The shares were 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 owns 130,467 shares in the company, valued at $1,825,233.33. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,685 shares of company stock worth $135,687. Corporate insiders own 12.80% of the company's stock.

Permian Resources Stock Performance

Shares of NYSE PR traded down $0.09 during trading hours on Monday, hitting $10.95. 2,887,515 shares of the stock were exchanged, compared to its average volume of 9,604,782. Permian Resources Co. has a one year low of $10.01 and a one year high of $18.06. 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 market capitalization of $8.80 billion, a P/E ratio of 6.64, a P/E/G ratio of 4.05 and a beta of 3.81. The company's 50 day moving average is $13.33 and its 200 day moving average is $14.20.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.48%. Permian Resources's payout ratio is presently 41.96%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PR. Truist Financial lifted their price target on Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Citigroup cut shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Bank of America lowered their price target on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Susquehanna upgraded Permian Resources from a "neutral" rating to a "positive" rating and lifted their price objective for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their target price on Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.73.

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.