SevenBridge Financial Group LLC Has $1.79 Million Stock Holdings in Permian Resources Co. (NYSE:PR)

SevenBridge Financial Group LLC increased its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 115.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,457 shares of the company's stock after buying an additional 64,101 shares during the period. SevenBridge Financial Group LLC's holdings in Permian Resources were worth $1,793,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Permian Resources by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock worth $2,021,000 after purchasing an additional 662 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Permian Resources by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company's stock valued at $2,540,000 after purchasing an additional 700 shares during the period. Sunbelt Securities Inc. grew its stake 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 worth $43,000 after acquiring an additional 800 shares in the last quarter. CIBC Asset Management Inc raised its position in Permian Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock valued at $226,000 after purchasing an additional 805 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in 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 acquiring an additional 852 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Permian Resources

In other news, EVP John Charles Bell sold 2,804 shares of the firm's stock in a transaction that occurred 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 approximately $1,044,294.99. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the transaction, the chief accounting officer now owns 58,668 shares of the company's stock, valued at $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,685 shares of company stock valued at $135,687 over the last three months. Company insiders own 12.80% of the company's stock.

Analysts Set New Price Targets

PR has been the topic of several research analyst reports. Williams Trading set a $19.00 target price on Permian Resources in a research report on Wednesday, March 5th. Bank of America decreased their price objective on Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Susquehanna upgraded Permian Resources from a "neutral" rating to a "positive" rating and boosted their target price for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Citigroup lowered shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Piper Sandler dropped their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Permian Resources presently has a consensus rating of "Moderate Buy" and an average target price of $19.13.

Permian Resources Trading Down 1.4 %

Shares of Permian Resources stock traded down $0.15 on Monday, hitting $10.60. 8,086,891 shares of the company's stock traded hands, compared to its average volume of 9,510,944. The firm's 50-day moving average price is $13.87 and its two-hundred day moving average price is $14.34. The stock has a market capitalization of $8.52 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a one year low of $10.08 and a one year high of $18.28.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date was Monday, March 17th. Permian Resources's payout ratio is currently 41.96%.

Permian Resources 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.