Proficio Capital Partners LLC Buys Shares of 14,394 Permian Resources Co. (NYSE:PR)

Proficio Capital Partners LLC bought a new stake in Permian Resources Co. (NYSE:PR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,394 shares of the company’s stock, valued at approximately $207,000.

Other large investors have also modified their holdings of the company. Yaupon Capital Management LP grew its position in Permian Resources by 225.0% in the 3rd quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock valued at $51,016,000 after buying an additional 2,595,137 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of 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 worth $74,811,000 after acquiring an additional 2,023,742 shares during the period. Perpetual Ltd purchased a new stake in shares of Permian Resources in the fourth quarter valued at about $27,104,000. Geode Capital Management LLC increased its stake in shares of Permian Resources by 17.6% during the third quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock worth $148,957,000 after acquiring an additional 1,638,618 shares during the period. Finally, Jennison Associates LLC raised its holdings in Permian Resources by 19.8% during the fourth quarter. Jennison Associates LLC now owns 9,159,252 shares of the company’s stock worth $131,710,000 after purchasing an additional 1,511,923 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Price Performance

Shares of NYSE PR opened at $13.94 on Friday. 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 company’s 50-day moving average price is $14.18 and its 200 day moving average price is $14.34. Permian Resources Co. has a 52 week low of $11.84 and a 52 week high of $18.28. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 8.45, a PEG ratio of 4.05 and a beta of 4.30.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.30%. Permian Resources’s dividend payout ratio is presently 41.96%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PR shares. Citigroup lowered Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Piper Sandler dropped their price objective on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Truist Financial raised their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report 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 investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.31.

Insider Transactions at Permian Resources

In other news, Director William J. Quinn bought 500,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the purchase, the director now owns 812,429 shares of the company’s stock, valued at $10,618,447.03. This trade represents a 160.04 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,446 shares of company stock valued at $269,731 in the last ninety days. Corporate insiders own 12.80% of the company’s stock.

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.