River Road Asset Management LLC Has $71.63 Million Stake in Permian Resources Co. (NYSE:PR)

River Road Asset Management LLC cut its stake in Permian Resources Co. (NYSE:PR - Free Report) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,981,084 shares of the company's stock after selling 21,298 shares during the quarter. River Road Asset Management LLC owned approximately 0.62% of Permian Resources worth $71,628,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its holdings in shares of Permian Resources by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company's stock worth $2,540,000 after acquiring an additional 700 shares during the period. Sunbelt Securities Inc. lifted its holdings in Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock worth $43,000 after purchasing an additional 800 shares during the last quarter. CIBC Asset Management Inc boosted its stake 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 during the period. Principal Securities Inc. grew its holdings in Permian Resources by 73.6% in the 4th 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. Finally, Oregon Public Employees Retirement Fund increased its position in Permian Resources by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company's stock worth $1,862,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PR shares. Williams Trading set a $19.00 target price on shares of Permian Resources in a research report on Wednesday, March 5th. Susquehanna raised shares of Permian Resources from a "neutral" rating to a "positive" rating and boosted their price objective for the company from $17.00 to $20.00 in a report on Wednesday, March 5th. Morgan Stanley initiated coverage on shares of Permian Resources in a report on Friday, January 10th. They set an "overweight" rating and a $19.00 target price on the stock. Citigroup cut Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Finally, Truist Financial increased their price target on Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. One equities 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Permian Resources currently has a consensus rating of "Moderate Buy" and an average price target of $19.29.

Permian Resources Price Performance

Shares of NYSE:PR traded up $0.59 during trading on Wednesday, hitting $13.45. 9,201,244 shares of the company were exchanged, compared to its average volume of 8,674,660. 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 Co. has a 1-year low of $11.84 and a 1-year high of $18.28. The company has a market capitalization of $10.80 billion, a P/E ratio of 8.15, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. The business's 50 day moving average is $14.51 and its 200-day moving average is $14.37.

Permian Resources Dividend Announcement

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

Insider Transactions at Permian Resources

In related news, CAO Robert Regan Shannon sold 2,731 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William J. Quinn bought 500,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were bought 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 $10,618,447.03. The trade was a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 18,446 shares of company stock worth $269,731. Insiders own 12.80% of the company's stock.

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.