Oregon Public Employees Retirement Fund Buys 900 Shares of Permian Resources Co. (NYSE:PR)

Oregon Public Employees Retirement Fund increased its stake in shares of Permian Resources Co. (NYSE:PR) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,520 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Permian Resources were worth $1,862,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Securities Inc. boosted its stake in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Permian Resources during the fourth quarter worth $31,000. Global Retirement Partners LLC lifted its stake in shares of Permian Resources by 98.4% in the fourth 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. Sunbelt Securities Inc. lifted its stake in shares of Permian Resources by 33.4% in the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after buying an additional 800 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after buying an additional 2,629 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 12.80% of the stock is currently owned by corporate insiders.

Permian Resources Stock Performance

Shares of PR stock opened at $14.09 on Friday. Permian Resources Co. has a one year low of $12.62 and a one year high of $18.28. The firm has a 50-day moving average of $14.70 and a 200-day moving average of $14.47. 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 cap of $11.32 billion, a P/E ratio of 8.54, a P/E/G ratio of 4.05 and a beta of 4.28.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.26%. Permian Resources’s dividend payout ratio (DPR) is presently 36.36%.

Analysts Set New Price Targets

A number of research firms have weighed in on PR. Truist Financial raised their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler raised their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley began coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.13.

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.