Signaturefd LLC Grows Stock Position in Permian Resources Co. (NYSE:PR)

Signaturefd LLC boosted its stake in shares of Permian Resources Co. (NYSE:PR) by 61.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,194 shares of the company’s stock after acquiring an additional 2,730 shares during the quarter. Signaturefd LLC’s holdings in Permian Resources were worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Securities Inc. boosted 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 purchasing an additional 852 shares during the period. ORG Wealth Partners LLC bought a new stake in Permian Resources during the 4th quarter valued at $31,000. Global Retirement Partners LLC boosted its position in Permian Resources by 98.4% during the 4th 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 during the period. Rakuten Securities Inc. grew its holdings in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after acquiring an additional 2,305 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Permian Resources by 294.8% in the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after acquiring an additional 2,155 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PR has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced 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. Morgan Stanley started coverage on Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target for the company. Finally, Piper Sandler reduced their price objective on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Permian Resources presently has an average rating of “Moderate Buy” and an average target price of $19.31.

Insider Buying and Selling

In related news, Director William J. Quinn bought 500,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 owns 812,429 shares of the company’s stock, valued at $10,618,447.03. The trade was a 160.04 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, the chief accounting officer now owns 58,668 shares of the company’s stock, valued at $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,446 shares of company stock worth $269,731 in the last 90 days. Insiders own 12.80% of the company’s stock.

Permian Resources Trading Down 1.3 %

NYSE:PR opened at $13.79 on Monday. The firm has a market capitalization of $11.08 billion, a P/E ratio of 8.35, a PEG ratio of 4.05 and a beta of 4.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a one year low of $11.84 and a one year high of $18.28. The company’s 50-day simple moving average is $14.30 and its 200 day simple moving average is $14.33.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.35%. Permian Resources’s dividend payout ratio is currently 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.