Treasurer of the State of North Carolina Buys 5,020 Shares of Permian Resources Co. (NYSE:PR)

Treasurer of the State of North Carolina grew its stake in shares of Permian Resources Co. (NYSE:PR) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 371,560 shares of the company’s stock after acquiring an additional 5,020 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Permian Resources were worth $5,343,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Principal Securities Inc. grew its stake 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 valued at $29,000 after purchasing an additional 852 shares during the period. ORG Wealth Partners LLC purchased a new stake in Permian Resources during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC raised its position in Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after acquiring an additional 1,232 shares during the period. Rakuten Securities Inc. boosted its stake in shares of Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after acquiring an additional 2,305 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position 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 valued at $42,000 after acquiring an additional 2,155 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Insider Transactions at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 4,150 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total transaction of $58,058.50. Following the sale, the chief financial officer now directly owns 130,467 shares of the company’s stock, valued at $1,825,233.33. The trade was a 3.08 % decrease in their ownership of the stock. The sale 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 that occurred 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 completion of the sale, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,685 shares of company stock valued at $135,687 in the last ninety days. Corporate insiders own 12.80% of the company’s stock.

Wall Street Analysts Forecast Growth

PR has been the topic of several analyst reports. Piper Sandler lowered 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. Morgan Stanley lowered their price objective on Permian Resources from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and increased their target price for the stock from $17.00 to $20.00 in a report on Wednesday, March 5th. Royal Bank of Canada decreased their target price on shares of Permian Resources from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Citigroup lowered shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.73.

Permian Resources Trading Down 0.3 %

Shares of PR stock opened at $11.01 on Tuesday. 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 $8.85 billion, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 12-month low of $10.01 and a 12-month high of $18.06. The stock’s 50-day moving average price is $13.26 and its 200-day moving average price is $14.18.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date was Monday, March 17th. Permian Resources’s payout ratio is 41.96%.

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.