Public Employees Retirement Association of Colorado Has $6.96 Million Stock Holdings in Permian Resources Co. (NYSE:PR)

Public Employees Retirement Association of Colorado increased its position in shares of Permian Resources Co. (NYSE:PR) by 1,066.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 483,943 shares of the company’s stock after acquiring an additional 442,455 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Permian Resources were worth $6,959,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Permian Resources by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company’s stock valued at $2,021,000 after acquiring an additional 662 shares during the period. Louisiana State Employees Retirement System lifted 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 during the period. CIBC Asset Management Inc lifted its stake in shares of Permian Resources by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company’s stock valued at $226,000 after acquiring an additional 805 shares during the period. Principal Securities Inc. lifted its stake in shares of 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 acquiring an additional 852 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Permian Resources by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company’s stock valued at $1,862,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Up 1.1 %

Shares of Permian Resources stock opened at $12.39 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market capitalization of $9.96 billion, a P/E ratio of 7.51, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 1 year low of $10.01 and a 1 year high of $17.62. The business has a 50-day moving average of $12.75 and a two-hundred day moving average of $14.02.

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 given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date was Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America cut their target price on Permian Resources from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Williams Trading set a $19.00 target price on Permian Resources in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada cut their target price on Permian Resources from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Truist Financial increased their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.67.

Insider Transactions at Permian Resources

In other news, EVP John Charles Bell sold 2,804 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the sale, the executive vice president now owns 74,433 shares of the company’s stock, valued at $1,044,294.99. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $822,525.36. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,685 shares of company stock valued at $135,687 in the last ninety days. 12.80% of the stock is currently owned by corporate insiders.

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.