Permian Resources Co. (NYSE:PR) Shares Purchased by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. lifted its position in Permian Resources Co. (NYSE:PR) by 42,277.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,207 shares of the company’s stock after purchasing an additional 32,131 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Permian Resources were worth $463,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Permian Resources by 6.1% in the 3rd quarter. State Street Corp now owns 22,027,153 shares of the company’s stock valued at $299,790,000 after purchasing an additional 1,263,460 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Permian Resources by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock valued at $247,042,000 after acquiring an additional 1,543,854 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Permian Resources by 7.2% during the 4th quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company’s stock valued at $196,025,000 after acquiring an additional 909,740 shares during the last quarter. Geode Capital Management LLC raised its stake in Permian Resources by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock valued at $148,957,000 after acquiring an additional 1,638,618 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Permian Resources by 19.8% during the 4th quarter. Jennison Associates LLC now owns 9,159,252 shares of the company’s stock valued at $131,710,000 after acquiring an additional 1,511,923 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on PR. Truist Financial upped their price objective on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler upped their price objective on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley began coverage on Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective for the company. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Permian Resources Stock Performance

NYSE PR opened at $12.94 on Tuesday. Permian Resources Co. has a 1-year low of $12.62 and a 1-year high of $18.28. The company has a market capitalization of $10.40 billion, a P/E ratio of 7.84, a PEG ratio of 4.05 and a beta of 4.28. The business has a 50 day moving average price of $14.69 and a 200 day moving average price of $14.45. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.64%. The ex-dividend date is Monday, March 17th. Permian Resources’s payout ratio is currently 41.96%.

Insider Activity at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.80% of the stock is currently owned by company insiders.

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.