Pitcairn Co. Has $200,000 Stock Holdings in Permian Resources Co. (NYSE:PR)

Pitcairn Co. decreased its holdings in shares of Permian Resources Co. (NYSE:PR) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,912 shares of the company’s stock after selling 1,810 shares during the quarter. Pitcairn Co.’s holdings in Permian Resources were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. grew its stake in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after acquiring an additional 852 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Permian Resources during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC grew its position in Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after purchasing an additional 1,232 shares in the last quarter. Rakuten Securities Inc. lifted its position in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after buying an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after buying an additional 2,155 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Trading Down 12.4 %

Permian Resources stock opened at $10.74 on Monday. Permian Resources Co. has a 52 week low of $10.42 and a 52 week high of $18.28. 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 firm has a market capitalization of $8.63 billion, a PE ratio of 6.51, a PEG ratio of 4.05 and a beta of 3.81. The business’s 50-day simple moving average is $13.87 and its 200-day simple moving average is $14.34.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.59%. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Piper Sandler dropped their price target on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and raised their price target for the stock from $17.00 to $20.00 in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Morgan Stanley cut their price objective 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. Finally, Citigroup cut shares of Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.13.

Insider Activity

In related news, Director William J. Quinn bought 500,000 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the purchase, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,685 shares of company stock valued at $135,687. 12.80% of the stock is owned by company insiders.

Permian Resources Company 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.