American Century Companies Inc. Purchases 172,856 Shares of Permian Resources Co. (NYSE:PR)

American Century Companies Inc. grew its stake in Permian Resources Co. (NYSE:PR - Free Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,299,054 shares of the company's stock after acquiring an additional 172,856 shares during the period. American Century Companies Inc. owned 1.41% of Permian Resources worth $162,480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Permian Resources by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock worth $2,021,000 after acquiring an additional 662 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Permian Resources by 0.4% in the 4th 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. lifted its stake in Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock valued at $43,000 after purchasing an additional 800 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Permian Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock worth $226,000 after purchasing an additional 805 shares during the period. Finally, Principal Securities Inc. increased its position in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock worth $29,000 after buying an additional 852 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

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Insider Transactions at Permian Resources

In other news, EVP John Charles Bell sold 2,804 shares of Permian Resources 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 owns 74,433 shares in the company, valued at approximately $1,044,294.99. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares of the company's stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,446 shares of company stock worth $269,731. Corporate insiders own 12.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PR shares. Truist Financial raised their price objective on Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Citigroup downgraded Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. Morgan Stanley initiated coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an "overweight" rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Piper Sandler reduced their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.31.

Permian Resources Price Performance

Shares of NYSE PR traded up $0.11 during trading hours on Tuesday, hitting $14.26. 4,723,985 shares of the stock were exchanged, compared to its average volume of 9,193,798. The company's fifty day simple moving average is $14.28 and its two-hundred day simple moving average is $14.34. The company has a market cap of $11.46 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a 1-year low of $11.84 and a 1-year high of $18.28.

Permian Resources Announces Dividend

The business also recently announced 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 is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.21%. Permian Resources's payout ratio is presently 41.96%.

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.