Ashton Thomas Private Wealth LLC Makes New $211,000 Investment in Permian Resources Co. (NYSE:PR)

Ashton Thomas Private Wealth LLC purchased a new position in shares of Permian Resources Co. (NYSE:PR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,685 shares of the company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its position in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of Permian Resources in the 4th quarter valued at about $31,000. Global Retirement Partners LLC lifted its holdings in shares of Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after buying an additional 1,232 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after buying an additional 2,155 shares during the period. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Price Performance

NYSE:PR opened at $12.87 on Wednesday. Permian Resources Co. has a 12 month low of $11.84 and a 12 month high of $18.28. The stock has a 50 day moving average of $14.51 and a two-hundred day moving average of $14.37. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a market cap of $10.34 billion, a P/E ratio of 7.80, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30.

Permian Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.66%. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial boosted their price objective on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler decreased their price objective on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $17.00 to $20.00 in a report on Wednesday, March 5th. Morgan Stanley assumed coverage on Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, Citigroup cut Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Insiders Place Their Bets

In other news, CFO Guy M. Oliphint sold 4,150 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the sale, the chief financial officer now directly owns 130,467 shares in the company, valued at $1,825,233.33. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William J. Quinn purchased 500,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the transaction, the director now directly owns 812,429 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 18,446 shares of company stock worth $269,731. Corporate 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.