William Blair Investment Management LLC Has $353,000 Stake in Permian Resources Co. (NYSE:PR)

William Blair Investment Management LLC lowered its holdings in Permian Resources Co. (NYSE:PR) by 22.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,565 shares of the company’s stock after selling 6,950 shares during the quarter. William Blair Investment Management LLC’s holdings in Permian Resources were worth $353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PR. Atria Investments Inc bought a new stake in Permian Resources during the 3rd quarter worth approximately $417,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Permian Resources during the third quarter valued at approximately $633,000. Oppenheimer Asset Management Inc. bought a new stake in Permian Resources during the third quarter worth $556,000. KBC Group NV raised its position in Permian Resources by 34.7% in the 3rd quarter. KBC Group NV now owns 15,597 shares of the company’s stock valued at $212,000 after buying an additional 4,015 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new position in Permian Resources during the 3rd quarter valued at $161,000. Institutional investors own 91.84% of the company’s stock.

Analyst Upgrades and Downgrades

PR has been the subject of several analyst reports. Piper Sandler lowered their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Williams Trading set a $19.00 target price on shares of Permian Resources in a research report on Wednesday, March 5th. Morgan Stanley initiated coverage on Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.35.

Permian Resources Trading Up 4.0 %

Shares of PR stock opened at $14.10 on Thursday. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 4.05 and a beta of 4.30. The company’s fifty day simple moving average is $14.35 and its two-hundred day simple moving average is $14.33. Permian Resources Co. has a 1 year low of $11.84 and a 1 year high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.26%. Permian Resources’s payout ratio is 41.96%.

Insider Buying and Selling

In other Permian Resources news, Director William J. Quinn acquired 500,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at $822,525.36. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,446 shares of company stock valued at $269,731. Corporate insiders own 12.80% of the company’s stock.

Permian Resources Company 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.