RE Dickinson Investment Advisors LLC Buys Shares of 2,871 Permian Resources Co. (NYSE:PR)

RE Dickinson Investment Advisors LLC bought a new position in Permian Resources Co. (NYSE:PR) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 2,871 shares of the company’s stock, valued at approximately $41,000.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. increased its holdings in Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after buying an additional 852 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Permian Resources in the fourth quarter worth about $31,000. Global Retirement Partners LLC increased its stake in shares of 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 purchasing an additional 1,232 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Permian Resources by 1,152.5% in the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after acquiring an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Permian Resources by 294.8% in the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after purchasing an additional 2,155 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Stock Up 4.6 %

Shares of Permian Resources stock opened at $11.05 on Friday. The company has a market capitalization of $8.87 billion, a PE ratio of 6.69, 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 current ratio of 0.68 and a quick ratio of 0.68. The business has a 50-day moving average of $13.33 and a 200-day moving average of $14.19. Permian Resources Co. has a 1-year low of $10.01 and a 1-year high of $18.28.

Permian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.43%. The ex-dividend date was Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is 41.96%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PR. Piper Sandler decreased their price objective 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. JPMorgan Chase & Co. cut 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. Williams Trading set a $19.00 price objective on Permian Resources in a research report on Wednesday, March 5th. Susquehanna upgraded shares of Permian Resources from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $17.00 to $20.00 in a research note on Wednesday, March 5th. Finally, Morgan Stanley reduced their price target on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Insider Activity

In other news, Director William J. Quinn purchased 500,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the acquisition, the director now directly owns 812,429 shares of the company’s stock, valued at $10,618,447.03. The trade was a 160.04 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Guy M. Oliphint sold 4,150 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total transaction of $58,058.50. Following the transaction, the chief financial officer now directly owns 130,467 shares in the company, valued at $1,825,233.33. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,685 shares of company stock valued at $135,687. Insiders own 12.80% of the company’s stock.

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.