Permian Resources Co. (NYSE:PR) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP raised its holdings in Permian Resources Co. (NYSE:PR) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,335,547 shares of the company’s stock after acquiring an additional 121,903 shares during the quarter. First Trust Advisors LP owned 0.29% of Permian Resources worth $33,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Principal Securities Inc. raised its position 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 worth $29,000 after purchasing an additional 852 shares during the period. ORG Wealth Partners LLC purchased a new position in Permian Resources in the 4th quarter worth about $31,000. Global Retirement Partners LLC raised its holdings in Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after buying an additional 1,232 shares during the period. Rakuten Securities Inc. lifted its stake in Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after buying an additional 2,305 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC acquired a new position in shares of Permian Resources in the fourth quarter worth about $41,000. Institutional investors own 91.84% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Guy M. Oliphint sold 4,150 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $13.99, for a total transaction of $58,058.50. Following the completion of the transaction, the chief financial officer now owns 130,467 shares of the company’s stock, valued at approximately $1,825,233.33. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. This trade 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 over the last 90 days. 12.80% of the stock is currently owned by company insiders.

Permian Resources Trading Up 2.7 %

Permian Resources stock opened at $12.22 on Friday. Permian Resources Co. has a one year low of $10.01 and a one year high of $17.62. The company’s fifty day moving average price is $12.84 and its two-hundred day moving average price is $14.05. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 4.05 and a beta of 3.81. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.15 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.91%. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PR shares. JPMorgan Chase & Co. reduced their price target on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Royal Bank of Canada reduced their target price on Permian Resources from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Morgan Stanley lowered their price target on Permian Resources from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Susquehanna reduced their price objective on Permian Resources from $20.00 to $19.00 and set a “positive” rating for the company in a research note on Tuesday. Finally, Truist Financial lifted 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 given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and an average price target of $18.67.

Permian Resources 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.