Permian Resources Co. (NYSE:PR) Holdings Lifted by Rakuten Securities Inc.

Rakuten Securities Inc. increased its holdings in shares of Permian Resources Co. (NYSE:PR) by 1,152.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,505 shares of the company’s stock after buying an additional 2,305 shares during the quarter. Rakuten Securities Inc.’s holdings in Permian Resources were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Louisiana State Employees Retirement System grew its stake in Permian Resources by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock valued at $2,540,000 after purchasing an additional 700 shares in the last quarter. Sunbelt Securities Inc. grew its stake in Permian Resources by 33.4% in the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after purchasing an additional 800 shares in the last quarter. CIBC Asset Management Inc grew its stake in Permian Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company’s stock valued at $226,000 after purchasing an additional 805 shares in the last quarter. Principal Securities Inc. grew its stake in Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Permian Resources by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company’s stock valued at $1,862,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Price Performance

NYSE PR opened at $12.92 on Friday. Permian Resources Co. has a twelve month low of $11.84 and a twelve month high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market capitalization of $10.38 billion, a PE ratio of 7.83, a P/E/G ratio of 4.05 and a beta of 4.30. The stock has a 50-day simple moving average of $14.45 and a 200 day simple moving average of $14.35.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.65%. Permian Resources’s dividend payout ratio is presently 41.96%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PR shares. Williams Trading set a $19.00 target price on Permian Resources in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday. Piper Sandler reduced their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Truist Financial boosted their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Permian Resources currently has an average rating of “Moderate Buy” and a consensus price target of $19.35.

Insider Buying and Selling

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the transaction, the chief accounting officer now owns 58,668 shares of the company’s stock, valued at $822,525.36. This represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Charles Bell sold 2,804 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the transaction, the executive vice president now directly owns 74,433 shares of the company’s stock, valued at approximately $1,044,294.99. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,446 shares of company stock valued at $269,731. Insiders own 12.80% of the company’s stock.

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.