Homestead Advisers Corp Sells 28,600 Shares of Permian Resources Co. (NYSE:PR)

Homestead Advisers Corp trimmed its position in shares of Permian Resources Co. (NYSE:PR) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,700 shares of the company’s stock after selling 28,600 shares during the period. Homestead Advisers Corp’s holdings in Permian Resources were worth $2,843,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PR. Kingsview Wealth Management LLC bought a new stake in shares of Permian Resources during the fourth quarter valued at approximately $632,000. Wright Investors Service Inc. bought a new stake in Permian Resources in the 4th quarter valued at $498,000. Point72 Asset Management L.P. increased its holdings in Permian Resources by 58.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after buying an additional 2,023,742 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Permian Resources by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company’s stock valued at $62,407,000 after buying an additional 176,320 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of Permian Resources by 36.9% during the 4th quarter. New York State Teachers Retirement System now owns 269,905 shares of the company’s stock valued at $3,881,000 after acquiring an additional 72,726 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Performance

PR stock opened at $14.18 on Thursday. Permian Resources Co. has a twelve month low of $11.84 and a twelve month high of $18.28. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The company has a market cap of $11.39 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. The business’s fifty day moving average is $14.22 and its 200-day moving average is $14.35.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.23%. Permian Resources’s payout ratio is currently 41.96%.

Insider Activity

In other news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William J. Quinn bought 500,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the purchase, the director now directly owns 812,429 shares in the company, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 18,446 shares of company stock valued at $269,731 in the last ninety days. 12.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on PR. Morgan Stanley began coverage on shares of Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Truist Financial raised their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Citigroup cut Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Williams Trading set a $19.00 target price on shares of Permian Resources in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

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.