Permian Resources Co. (NYSE:PR) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp grew its position in shares of Permian Resources Co. (NYSE:PR) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 415,739 shares of the company’s stock after purchasing an additional 31,388 shares during the period. Stifel Financial Corp’s holdings in Permian Resources were worth $5,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Permian Resources during the 3rd quarter worth about $57,000. Franklin Resources Inc. lifted its position in shares of Permian Resources by 54.9% during the third quarter. Franklin Resources Inc. now owns 1,360,809 shares of the company’s stock worth $19,351,000 after purchasing an additional 482,405 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Permian Resources by 21.6% in the third quarter. Retirement Systems of Alabama now owns 770,883 shares of the company’s stock valued at $10,492,000 after purchasing an additional 136,971 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Permian Resources by 35.3% in the third quarter. Principal Financial Group Inc. now owns 3,984,490 shares of the company’s stock valued at $54,235,000 after purchasing an additional 1,038,489 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Permian Resources by 57.9% during the 4th quarter. GAMMA Investing LLC now owns 6,406 shares of the company’s stock worth $92,000 after buying an additional 2,348 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup cut shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Williams Trading set a $19.00 target price on Permian Resources in a research note on Wednesday, March 5th. Royal Bank of Canada decreased their price objective on Permian Resources from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Susquehanna cut their target price on shares of Permian Resources from $20.00 to $19.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial raised their target price 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.67.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 2,804 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total transaction of $39,340.12. Following the transaction, the executive vice president now directly owns 74,433 shares of the company’s stock, valued at approximately $1,044,294.99. This trade represents a 3.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William J. Quinn bought 500,000 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the acquisition, the director now directly owns 812,429 shares of the company’s stock, valued at approximately $10,618,447.03. The trade was a 160.04 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 9,685 shares of company stock worth $135,687. Corporate insiders own 12.80% of the company’s stock.

Permian Resources Trading Down 1.7 %

Shares of Permian Resources stock opened at $12.18 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $12.70 and a 200-day simple moving average of $14.00. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $17.62.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources’s payout ratio is 41.96%.

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.