First Trust Advisors LP Boosts Holdings in Permian Resources Co. (NYSE:PR)

First Trust Advisors LP boosted its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 5.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,335,547 shares of the company's stock after purchasing an additional 121,903 shares during the quarter. First Trust Advisors LP owned 0.29% of Permian Resources worth $33,585,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Kingsview Wealth Management LLC acquired a new position in Permian Resources in the 4th quarter worth about $632,000. Wright Investors Service Inc. acquired a new position in shares of Permian Resources during the fourth quarter worth approximately $498,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Permian Resources by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company's stock valued at $62,407,000 after buying an additional 176,320 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Permian Resources by 36.9% in the fourth quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock valued at $3,881,000 after purchasing an additional 72,726 shares in the last quarter. Finally, Perpetual Ltd bought a new stake in shares of Permian Resources in the 4th quarter worth $27,104,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Trading Up 1.1 %

Shares of NYSE PR traded up $0.13 during trading on Monday, reaching $12.39. The stock had a trading volume of 7,852,137 shares, compared to its average volume of 9,731,591. The business's 50-day moving average price is $12.79 and its 200-day moving average price is $14.03. 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 fifty-two week low of $10.01 and a fifty-two week high of $17.62. The company has a market cap of $9.96 billion, a P/E ratio of 7.51, a PEG ratio of 4.05 and a beta of 3.81.

Permian Resources Announces Dividend

The company also recently declared 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. This represents a $0.60 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources's dividend payout ratio (DPR) is presently 41.96%.

Insider Activity

In other news, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the sale, the chief accounting officer now owns 58,668 shares in the company, valued at approximately $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Quinn bought 500,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the transaction, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. This trade represents a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 9,685 shares of company stock worth $135,687. 12.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Truist Financial boosted their target price on Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Morgan Stanley decreased their price target on Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Piper Sandler cut their price objective on Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Finally, Susquehanna reduced their price target on Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.67.

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.