Aristotle Capital Boston LLC Sells 51,849 Shares of Permian Resources Co. (NYSE:PR)

Aristotle Capital Boston LLC lowered its position in shares of Permian Resources Co. (NYSE:PR) by 6.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 700,778 shares of the company’s stock after selling 51,849 shares during the quarter. Aristotle Capital Boston LLC owned about 0.09% of Permian Resources worth $10,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PR. Principal Securities Inc. raised its position in shares of Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after buying an additional 852 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Permian Resources in the 4th quarter valued at $31,000. Global Retirement Partners LLC raised its holdings in shares of 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 in the last quarter. Rakuten Securities Inc. boosted its stake in Permian Resources by 1,152.5% in 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 bought a new position in Permian Resources in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Buying and Selling

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the transaction, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at $822,525.36. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Quinn bought 500,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $13.07 per share, with a total value of $6,535,000.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 9,685 shares of company stock worth $135,687 in the last ninety days. Corporate insiders own 6.44% of the company’s stock.

Permian Resources Price Performance

PR stock opened at $12.20 on Friday. Permian Resources Co. has a 1 year low of $10.01 and a 1 year high of $17.62. The stock has a market capitalization of $9.80 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81. The company’s 50-day moving average is $12.59 and its 200-day moving average is $13.96. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.92%. Permian Resources’s dividend payout ratio is 41.96%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PR shares. Royal Bank of Canada decreased their price target on shares of Permian Resources from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Truist Financial lifted their price target on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Morgan Stanley dropped their price objective on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Citigroup lowered shares of Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Finally, Williams Trading set a $19.00 price target on shares of Permian Resources in a research note on Wednesday, March 5th. One equities research 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. Based on data from MarketBeat, Permian Resources presently has an average rating of “Moderate Buy” and an average price target of $18.67.

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.