Oregon Public Employees Retirement Fund Has $1.86 Million Position in Permian Resources Co. (NYSE:PR)

Oregon Public Employees Retirement Fund grew its position in Permian Resources Co. (NYSE:PR) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,520 shares of the company’s stock after buying an additional 900 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Permian Resources were worth $1,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. raised its position in shares of Permian Resources by 73.6% in the 4th 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 during the 4th quarter worth approximately $31,000. Global Retirement Partners LLC increased its position in Permian Resources by 98.4% during the 4th 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. Sunbelt Securities Inc. increased its position in Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after purchasing an additional 800 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 2,629 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective for the company. 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 report on Monday, January 13th. Finally, Piper Sandler upped their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and a consensus target price of $19.13.

Insider Activity

In other news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 12.80% of the company’s stock.

Permian Resources Trading Up 0.2 %

NYSE:PR opened at $14.09 on Friday. The firm’s fifty day moving average is $14.70 and its 200-day moving average is $14.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a 52 week low of $12.62 and a 52 week high of $18.28. The firm has a market cap of $11.32 billion, a P/E ratio of 8.54, a P/E/G ratio of 4.05 and a beta of 4.28.

Permian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio is currently 36.36%.

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.