Dana Investment Advisors Inc. Has $8.06 Million Position in Permian Resources Co. (NYSE:PR)

Dana Investment Advisors Inc. decreased its holdings in Permian Resources Co. (NYSE:PR) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 560,163 shares of the company’s stock after selling 32,296 shares during the quarter. Dana Investment Advisors Inc. owned 0.07% of Permian Resources worth $8,055,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Yaupon Capital Management LP raised its position in Permian Resources by 225.0% in the third quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock worth $51,016,000 after purchasing an additional 2,595,137 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Permian Resources by 58.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after purchasing an additional 2,023,742 shares during the period. Perpetual Ltd acquired a new position in shares of Permian Resources in the 4th quarter worth approximately $27,104,000. Geode Capital Management LLC raised its holdings in shares of Permian Resources by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock worth $148,957,000 after buying an additional 1,638,618 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Permian Resources by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock worth $247,042,000 after buying an additional 1,543,854 shares during the period. 91.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director William J. Quinn acquired 500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,446 shares of company stock valued at $269,731 over the last ninety days. Insiders own 12.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PR. Piper Sandler upped their price target on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley assumed coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and lifted their price target for the company from $17.00 to $20.00 in a report on Wednesday. Truist Financial upped their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Citigroup dropped their price objective on shares of Permian Resources from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $19.38.

Permian Resources Price Performance

Shares of PR stock opened at $12.46 on Thursday. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 4.05 and a beta of 4.28. Permian Resources Co. has a 12 month low of $11.84 and a 12 month high of $18.28. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $14.63 and a 200 day moving average price of $14.42.

Permian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.82%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio is 41.96%.

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.