111,200 Shares in Permian Resources Co. (NYSE:PR) Purchased by DRW Securities LLC

DRW Securities LLC bought a new position in Permian Resources Co. (NYSE:PR) during the 4th quarter, HoldingsChannel.com reports. The fund bought 111,200 shares of the company’s stock, valued at approximately $1,599,000.

Several other hedge funds have also made changes to their positions in PR. Advisory Services Network LLC increased its position in Permian Resources by 70.8% in the 4th quarter. Advisory Services Network LLC now owns 22,451 shares of the company’s stock worth $323,000 after purchasing an additional 9,309 shares during the last quarter. Applied Finance Capital Management LLC bought a new stake in shares of Permian Resources in the 4th quarter valued at approximately $230,000. Renaissance Technologies LLC increased its holdings in Permian Resources by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 10,809,247 shares of the company’s stock worth $155,437,000 after buying an additional 966,400 shares during the last quarter. Shelton Capital Management grew its position in Permian Resources by 24.6% in the fourth quarter. Shelton Capital Management now owns 23,952 shares of the company’s stock worth $344,000 after acquiring an additional 4,732 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Permian Resources by 4.3% in the 4th quarter. Legal & General Group Plc now owns 995,395 shares of the company’s stock valued at $14,314,000 after purchasing an additional 41,271 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler lowered their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Bank of America cut their price objective on Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. 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. Citigroup lowered Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Finally, Williams Trading set a $19.00 price objective on shares of Permian Resources in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.13.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $10.37 on Wednesday. Permian Resources Co. has a 1-year low of $10.05 and a 1-year high of $18.28. The firm’s 50-day moving average price is $13.60 and its two-hundred day moving average price is $14.27. 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 $8.33 billion, a price-to-earnings ratio of 6.28, a P/E/G ratio of 4.05 and a beta of 3.81.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.79%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources’s payout ratio is presently 41.96%.

Insider Activity

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at approximately $822,525.36. The trade was a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William J. Quinn bought 500,000 shares of the stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the acquisition, the director now directly owns 812,429 shares in the company, valued at approximately $10,618,447.03. This trade represents a 160.04 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 9,685 shares of company stock worth $135,687. 12.80% of the stock is owned by corporate 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.