112,520 Shares in Permian Resources Co. (NYSE:PR) Purchased by Dean Capital Management

Dean Capital Management bought a new stake in shares of Permian Resources Co. (NYSE:PR) in the 4th quarter, Holdings Channel reports. The firm bought 112,520 shares of the company’s stock, valued at approximately $1,618,000.

Other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Permian Resources in the 3rd quarter valued at $57,000. Franklin Resources Inc. lifted its holdings in shares of Permian Resources by 54.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,360,809 shares of the company’s stock worth $19,351,000 after buying an additional 482,405 shares during the period. Principal Financial Group Inc. grew its position in shares of Permian Resources by 35.3% during the 3rd quarter. Principal Financial Group Inc. now owns 3,984,490 shares of the company’s stock worth $54,235,000 after buying an additional 1,038,489 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Permian Resources by 57.9% during the fourth quarter. GAMMA Investing LLC now owns 6,406 shares of the company’s stock valued at $92,000 after buying an additional 2,348 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of Permian Resources by 1.5% in the fourth quarter. Nordea Investment Management AB now owns 278,054 shares of the company’s stock valued at $4,007,000 after acquiring an additional 4,115 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Activity

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 value of $38,288.62. Following the completion of the transaction, the chief accounting officer now owns 58,668 shares of the company’s stock, valued at approximately $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William J. Quinn purchased 500,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the purchase, the director now owns 812,429 shares in the company, valued at $10,618,447.03. This represents a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 9,685 shares of company stock valued at $135,687 in the last ninety days. Insiders own 6.44% of the company’s stock.

Permian Resources Stock Up 1.0 %

Shares of PR stock opened at $12.00 on Wednesday. Permian Resources Co. has a fifty-two week low of $10.01 and a fifty-two week high of $17.62. The firm has a market capitalization of $9.64 billion, a PE ratio of 7.27, a P/E/G ratio of 4.05 and a beta of 1.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s 50-day simple moving average is $12.50 and its 200-day simple moving average is $13.93.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.00%. The ex-dividend date was Monday, March 17th. Permian Resources’s payout ratio is 41.96%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley cut their target price on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research note on Wednesday, March 5th. Bank of America dropped their target price on Permian Resources from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. reduced their price target on Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Susquehanna dropped their price objective on Permian Resources from $20.00 to $19.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. One investment 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.