Russell Investments Group Ltd. Grows Stock Holdings in Permian Resources Co. (NYSE:PR)

Russell Investments Group Ltd. lifted its stake in Permian Resources Co. (NYSE:PR - Free Report) by 183.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,739,238 shares of the company's stock after purchasing an additional 1,126,336 shares during the period. Russell Investments Group Ltd. owned 0.22% of Permian Resources worth $24,688,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PR. Principal Securities Inc. lifted its holdings in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Permian Resources during the 4th quarter valued at $31,000. Global Retirement Partners LLC lifted its stake in shares of Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after buying an additional 1,232 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after buying an additional 2,305 shares during the period. Finally, Lindbrook Capital LLC increased its stake in Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock worth $42,000 after buying an additional 2,155 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Williams Trading set a $19.00 price target on Permian Resources in a research note on Wednesday, March 5th. Citigroup cut shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Bank of America cut their target price on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Permian Resources has an average rating of "Moderate Buy" and an average price target of $18.73.

Permian Resources Trading Up 0.9 %

PR traded up $0.10 on Monday, hitting $11.14. The company had a trading volume of 1,580,893 shares, compared to its average volume of 9,599,313. The business's fifty day simple moving average is $13.33 and its 200 day simple moving average is $14.20. 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 12-month low of $10.01 and a 12-month high of $18.06. The company has a market cap of $8.95 billion, a PE ratio of 6.75, a PEG ratio of 4.05 and a beta of 3.81.

Permian Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date was Monday, March 17th. Permian Resources's dividend payout ratio (DPR) is 41.96%.

Insider Activity

In related news, EVP John Charles Bell sold 2,804 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.03, for a total transaction of $39,340.12. Following the completion of the transaction, the executive vice president now directly owns 74,433 shares of the company's stock, valued at approximately $1,044,294.99. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm's 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 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. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,685 shares of company stock valued at $135,687. 12.80% of the stock is currently owned by insiders.

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.