Homestead Advisers Corp Has $2.84 Million Holdings in Permian Resources Co. (NYSE:PR)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its holdings in shares of Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the period. ORG Wealth Partners LLC acquired a new position in Permian Resources during the fourth quarter worth approximately $31,000. Global Retirement Partners LLC raised its stake in 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 during the period. Rakuten Securities Inc. lifted its position in shares of Permian Resources by 1,152.5% in the fourth 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 last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of Permian Resources by 294.8% during the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after acquiring an additional 2,155 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PR shares. JPMorgan Chase & Co. decreased their price objective on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $17.00 to $20.00 in a report on Wednesday, March 5th. Citigroup downgraded Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Truist Financial lifted their price objective 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. Finally, Williams Trading set a $19.00 target price on shares of Permian Resources in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and a consensus price target of $19.31.

Insiders Place Their Bets

In other news, Director William J. Quinn acquired 500,000 shares of the 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 purchase, the director now directly owns 812,429 shares of the company’s stock, valued at $10,618,447.03. This represents a 160.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction that occurred 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 sale, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,446 shares of company stock valued at $269,731. 12.80% of the stock is currently owned by insiders.

Permian Resources Stock Down 0.5 %

PR stock opened at $14.18 on Thursday. The firm has a 50-day moving average price of $14.22 and a 200-day moving average price of $14.35. Permian Resources Co. has a 12 month low of $11.84 and a 12 month high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a market capitalization 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.

Permian Resources Dividend Announcement

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

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.