Permian Resources Co. (NYSE:PR) Stock Position Increased by Vanguard Group Inc.

Vanguard Group Inc. grew its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,680,607 shares of the company's stock after purchasing an additional 870,622 shares during the period. Vanguard Group Inc. owned approximately 8.18% of Permian Resources worth $944,487,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Permian Resources by 0.5% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock worth $2,021,000 after buying an additional 662 shares during the period. Louisiana State Employees Retirement System grew its stake 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 valued at $2,540,000 after acquiring an additional 700 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Permian Resources by 33.4% during the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock worth $43,000 after acquiring an additional 800 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Permian Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock worth $226,000 after acquiring an additional 805 shares in the last quarter. Finally, Principal Securities Inc. boosted its holdings in Permian Resources by 73.6% in 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 during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

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Permian Resources Stock Performance

NYSE PR traded up $0.19 during trading hours on Wednesday, hitting $13.99. The company had a trading volume of 918,873 shares, compared to its average volume of 9,412,422. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.24 billion, a P/E ratio of 8.48, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a fifty-two week low of $11.84 and a fifty-two week high of $18.28. The business has a fifty day simple moving average of $14.06 and a 200-day simple moving average of $14.37.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.15 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.29%. Permian Resources's dividend payout ratio is presently 41.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PR shares. Truist Financial upped their target price on Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Piper Sandler cut their price target on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Citigroup downgraded shares of Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. Bank of America dropped 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 report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Permian Resources presently has an average rating of "Moderate Buy" and a consensus price target of $19.13.

Insider Buying and Selling at Permian Resources

In other news, 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 completion of the transaction, the chief financial officer now owns 134,617 shares of the company's stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The shares were 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. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,446 shares of company stock valued at $269,731 in the last ninety days. Company insiders own 12.80% of the company's stock.

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.