Permian Resources Co. (NYSE:PR) Shares Sold by Simmons Bank

Simmons Bank lowered its holdings in Permian Resources Co. (NYSE:PR) by 3.9% in the fourth quarter, HoldingsChannel reports. The firm owned 37,400 shares of the company’s stock after selling 1,500 shares during the period. Simmons Bank’s holdings in Permian Resources were worth $538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PR. Principal Securities Inc. increased its stake in shares of Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after buying an additional 852 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Permian Resources during the 4th quarter worth $31,000. Global Retirement Partners LLC increased its position 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 worth $36,000 after purchasing an additional 1,232 shares during the last quarter. Sunbelt Securities Inc. raised its stake 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 purchasing an additional 800 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 2,629 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

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

Permian Resources Price Performance

Shares of NYSE:PR opened at $14.04 on Friday. The firm’s 50 day moving average is $14.69 and its two-hundred day moving average is $14.47. The firm has a market capitalization of $11.28 billion, a P/E ratio of 8.51, a PEG ratio of 4.05 and a beta of 4.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 52 week low of $12.62 and a 52 week high of $18.28.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio is currently 36.36%.

Insider Buying and Selling at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.80% of the stock is 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.