Phocas Financial Corp. Has $1.16 Million Stock Position in Permian Resources Co. (NYSE:PR)

Phocas Financial Corp. reduced its position in Permian Resources Co. (NYSE:PR) by 83.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 80,499 shares of the company’s stock after selling 408,157 shares during the period. Phocas Financial Corp.’s holdings in Permian Resources were worth $1,158,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Yaupon Capital Management LP boosted its holdings in shares of Permian Resources by 225.0% in the 3rd quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock worth $51,016,000 after purchasing an additional 2,595,137 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock worth $74,811,000 after purchasing an additional 2,023,742 shares during the last quarter. Perpetual Ltd purchased a new stake in Permian Resources in the 4th quarter worth approximately $27,104,000. Geode Capital Management LLC grew its position in shares of Permian Resources by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock worth $148,957,000 after buying an additional 1,638,618 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Permian Resources by 9.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock valued at $247,042,000 after buying an additional 1,543,854 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Trading Down 2.9 %

Shares of PR stock opened at $13.65 on Wednesday. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 4.05 and a beta of 4.28. The stock’s 50-day moving average price is $14.67 and its 200-day moving average price is $14.48. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 12-month low of $12.62 and a 12-month high of $18.28.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.40%. Permian Resources’s dividend payout ratio (DPR) is presently 36.36%.

Analyst Ratings Changes

Several analysts recently weighed in on PR shares. Morgan Stanley assumed coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target on the stock. Truist Financial boosted their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Piper Sandler lifted their price target on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Permian Resources has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Insider Activity

In other news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.80% of the company’s stock.

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.