Shelton Capital Management Buys 4,732 Shares of Permian Resources Co. (NYSE:PR)

Shelton Capital Management increased its stake in shares of Permian Resources Co. (NYSE:PR) by 24.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,952 shares of the company’s stock after buying an additional 4,732 shares during the quarter. Shelton Capital Management’s holdings in Permian Resources were worth $344,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its holdings in shares of Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares during the period. ORG Wealth Partners LLC bought a new stake in Permian Resources during the fourth quarter worth $31,000. Global Retirement Partners LLC lifted its stake in Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after purchasing an additional 1,232 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after purchasing an additional 2,305 shares during the last quarter. Finally, Lindbrook Capital LLC raised 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 buying an additional 2,155 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Down 11.3 %

NYSE:PR opened at $10.54 on Friday. The firm has a market cap of $8.47 billion, a P/E ratio of 6.39, a P/E/G ratio of 4.05 and a beta of 3.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a 52 week low of $10.01 and a 52 week high of $18.28. The firm’s fifty day moving average is $13.41 and its 200-day moving average is $14.21.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date was Monday, March 17th. Permian Resources’s dividend payout ratio is 41.96%.

Insider Activity at Permian Resources

In other news, CAO Robert Regan Shannon sold 2,731 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the transaction, the chief accounting officer now owns 58,668 shares in the company, valued at approximately $822,525.36. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Guy M. Oliphint sold 4,150 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the completion of the sale, the chief financial officer now owns 130,467 shares of the company’s stock, valued at approximately $1,825,233.33. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,685 shares of company stock worth $135,687 in the last 90 days. Corporate insiders own 12.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Piper Sandler decreased their target price on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Citigroup cut shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $17.00 to $20.00 in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective 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, Truist Financial upped their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Permian Resources has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

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.