Cornerstone Investment Partners LLC Has $733,000 Stock Holdings in Permian Resources Co. (NYSE:PR)

Cornerstone Investment Partners LLC raised its stake in Permian Resources Co. (NYSE:PR) by 22.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 50,943 shares of the company’s stock after buying an additional 9,198 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Permian Resources were worth $733,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Westover Capital Advisors LLC acquired a new position in shares of Permian Resources during the 4th quarter worth $975,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Permian Resources by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company’s stock worth $62,407,000 after buying an additional 176,320 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Permian Resources by 6.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,391 shares of the company’s stock worth $423,000 after buying an additional 1,797 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Permian Resources during the 4th quarter worth $89,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Permian Resources by 36.7% during the 4th quarter. Jones Financial Companies Lllp now owns 29,631 shares of the company’s stock worth $426,000 after buying an additional 7,958 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Activity at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction dated 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 $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.80% of the stock is owned by corporate insiders.

Permian Resources Trading Down 8.2 %

NYSE PR opened at $12.94 on Tuesday. The business’s 50-day moving average price is $14.69 and its two-hundred day moving average price is $14.45. Permian Resources Co. has a 12 month low of $12.62 and a 12 month high of $18.28. The firm has a market capitalization of $10.40 billion, a PE ratio of 7.84, a price-to-earnings-growth 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 Dividend Announcement

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 dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.64%. Permian Resources’s payout ratio is 41.96%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PR shares. Piper Sandler boosted their price target on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley started coverage on Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Finally, Truist Financial boosted their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.13.

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.