Aster Capital Management DIFC Ltd Takes Position in Permian Resources Co. (NYSE:PR)

Aster Capital Management DIFC Ltd purchased a new position in shares of Permian Resources Co. (NYSE:PR) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 9,620 shares of the company’s stock, valued at approximately $138,000.

Several other institutional investors have also added to or reduced their stakes in PR. Principal Securities Inc. raised its position in shares of 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 buying an additional 852 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in Permian Resources in the 4th quarter valued at $31,000. Global Retirement Partners LLC lifted its position in shares of Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after acquiring an additional 1,232 shares during the period. Rakuten Securities Inc. grew its holdings 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 purchasing an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Permian Resources by 294.8% in the fourth 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 institutional investors.

Insider Buying and Selling at Permian Resources

In related news, CFO Guy M. Oliphint sold 4,150 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total value of $58,058.50. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert Regan Shannon sold 2,731 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the sale, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at $822,525.36. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,685 shares of company stock worth $135,687. 12.80% of the stock is currently owned by company insiders.

Permian Resources Stock Performance

NYSE:PR opened at $10.37 on Wednesday. The stock’s 50-day moving average is $13.60 and its 200-day moving average is $14.27. Permian Resources Co. has a 1-year low of $10.05 and a 1-year high of $18.28. 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 cap of $8.33 billion, a P/E ratio of 6.28, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources’s payout ratio is 41.96%.

Analysts Set New Price Targets

PR has been the subject of several recent analyst reports. Morgan Stanley cut their price objective 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. Susquehanna upgraded shares of Permian Resources from a “neutral” rating to a “positive” rating and increased their price target for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Citigroup downgraded shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Truist Financial raised their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their price target on Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $19.13.

Permian Resources Company 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.