Elo Mutual Pension Insurance Co Invests $512,000 in Permian Resources Co. (NYSE:PR)

Elo Mutual Pension Insurance Co acquired a new stake in shares of Permian Resources Co. (NYSE:PR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,576 shares of the company’s stock, valued at approximately $512,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PR. Principal Securities Inc. lifted its stake 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 buying an additional 852 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Permian Resources in the 4th quarter worth about $31,000. Global Retirement Partners LLC lifted its position in Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after purchasing an additional 1,232 shares during the last quarter. Rakuten Securities Inc. boosted its stake in Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after purchasing an additional 2,305 shares during the period. Finally, Lindbrook Capital LLC grew its position 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 purchasing an additional 2,155 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Price Performance

Shares of NYSE:PR opened at $13.73 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $11.03 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. The stock has a fifty day moving average of $14.14 and a 200-day moving average of $14.37. Permian Resources Co. has a one year low of $11.84 and a one year high of $18.28.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.37%. Permian Resources’s dividend payout ratio is currently 41.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PR shares. Citigroup cut Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Morgan Stanley reduced their price target on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler lowered their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. cut their price objective on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Williams Trading set a $19.00 target price on shares of Permian Resources in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.31.

Insiders Place Their Bets

In related news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J. Quinn acquired 500,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the transaction, the director now directly owns 812,429 shares in the company, valued at approximately $10,618,447.03. This trade represents a 160.04 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 18,446 shares of company stock worth $269,731. Company insiders own 12.80% of the company’s stock.

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.