SRS Capital Advisors Inc. Has $463,000 Position in Permian Resources Co. (NYSE:PR)

SRS Capital Advisors Inc. boosted its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 42,277.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,207 shares of the company's stock after buying an additional 32,131 shares during the period. SRS Capital Advisors Inc.'s holdings in Permian Resources were worth $463,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Permian Resources by 6.1% during the third quarter. State Street Corp now owns 22,027,153 shares of the company's stock worth $299,790,000 after purchasing an additional 1,263,460 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Permian Resources by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company's stock worth $247,042,000 after acquiring an additional 1,543,854 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Permian Resources by 7.2% during the 4th quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company's stock valued at $196,025,000 after purchasing an additional 909,740 shares during the period. Geode Capital Management LLC boosted its stake in Permian Resources by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company's stock valued at $148,957,000 after purchasing an additional 1,638,618 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Permian Resources by 19.8% in the fourth quarter. Jennison Associates LLC now owns 9,159,252 shares of the company's stock worth $131,710,000 after purchasing an additional 1,511,923 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares of the company's stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,446 shares of company stock valued at $269,731 in the last 90 days. 12.80% of the stock is currently owned by company insiders.

Permian Resources Stock Performance

PR traded up $0.24 on Friday, hitting $12.68. 8,936,294 shares of the stock traded hands, compared to its average volume of 8,496,173. Permian Resources Co. has a 52 week low of $11.84 and a 52 week high of $18.28. The firm has a market capitalization of $10.18 billion, a PE ratio of 7.68, a P/E/G ratio of 4.05 and a beta of 4.30. The business has a fifty day moving average price of $14.60 and a two-hundred day moving average price of $14.40. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources Announces Dividend

The firm also recently declared 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 of this dividend is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.73%. Permian Resources's dividend payout ratio is currently 41.96%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, January 13th. Piper Sandler decreased their target price on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday. Susquehanna raised Permian Resources from a "neutral" rating to a "positive" rating and raised their price objective for the stock from $17.00 to $20.00 in a research note on Wednesday. Morgan Stanley initiated coverage on Permian Resources in a research report on Friday, January 10th. They issued an "overweight" rating and a $19.00 target price for the company. Finally, Citigroup reduced their price target on Permian Resources from $18.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $19.31.

About Permian Resources

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.