BI Asset Management Fondsmaeglerselskab A S Takes Position in Permian Resources Co. (NYSE:PR)

BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Permian Resources Co. (NYSE:PR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 130,805 shares of the company’s stock, valued at approximately $1,881,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PR. Principal Securities Inc. increased its position in shares of Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after acquiring an additional 852 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Permian Resources during the fourth quarter worth $31,000. Global Retirement Partners LLC grew its stake in shares of Permian Resources by 98.4% in the fourth 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 in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after buying an additional 2,305 shares during the period. Finally, RE Dickinson Investment Advisors LLC acquired a new position in Permian Resources during the 4th quarter worth about $41,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Stock Performance

Shares of PR stock opened at $11.62 on Tuesday. The stock’s 50-day moving average is $12.97 and its two-hundred day moving average is $14.10. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a 1 year low of $10.01 and a 1 year high of $17.62. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 4.05 and a beta of 3.81.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date was Monday, March 17th. Permian Resources’s dividend payout ratio is currently 41.96%.

Insider Activity

In other Permian Resources news, Director William J. Quinn bought 500,000 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the acquisition, the director now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the transaction, the chief accounting officer now owns 58,668 shares in the company, valued at $822,525.36. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,685 shares of company stock valued at $135,687. 12.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Permian Resources from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Truist Financial boosted their price target on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and lifted their target price for the company from $17.00 to $20.00 in a report on Wednesday, March 5th. Piper Sandler cut their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, Citigroup downgraded Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.73.

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.