Permian Resources Co. (NYSE:PR) Shares Acquired by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC boosted its position in Permian Resources Co. (NYSE:PR) by 115.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 119,457 shares of the company’s stock after purchasing an additional 64,101 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Permian Resources were worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Permian Resources by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company’s stock valued at $944,487,000 after buying an additional 870,622 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Permian Resources in the 4th quarter valued at $431,676,000. State Street Corp lifted its stake in shares of Permian Resources by 6.1% during the 3rd quarter. State Street Corp now owns 22,027,153 shares of the company’s stock worth $299,790,000 after purchasing an additional 1,263,460 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Permian Resources by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company’s stock worth $265,209,000 after purchasing an additional 291,444 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Permian Resources by 7.2% in the fourth quarter. Bank of New York Mellon Corp now owns 13,631,747 shares of the company’s stock valued at $196,025,000 after purchasing an additional 909,740 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William J. Quinn bought 500,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the transaction, the director now directly owns 812,429 shares of the company’s stock, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction 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 owns 58,668 shares in the company, 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 a total of 18,446 shares of company stock worth $269,731 over the last quarter. 12.80% of the stock is owned by company insiders.

Permian Resources Stock Performance

Permian Resources stock opened at $13.80 on Wednesday. The company has a market cap of $11.08 billion, a PE ratio of 8.36, a P/E/G ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 12 month low of $11.84 and a 12 month high of $18.28. The company has a fifty day moving average price of $14.06 and a two-hundred day moving average price of $14.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Monday, March 17th. Permian Resources’s dividend payout ratio is presently 41.96%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PR. JPMorgan Chase & Co. decreased their target price on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Truist Financial increased their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Morgan Stanley lowered their price target on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $17.00 to $20.00 in a report on Wednesday, March 5th. Finally, Williams Trading set a $19.00 target price on shares of Permian Resources 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, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.13.

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.