Permian Resources Co. (NYSE:PR) Stock Holdings Lessened by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lowered its stake in Permian Resources Co. (NYSE:PR) by 0.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 276,776 shares of the company’s stock after selling 861 shares during the period. Verdence Capital Advisors LLC’s holdings in Permian Resources were worth $3,980,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in Permian Resources by 32.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 73,710 shares of the company’s stock valued at $1,003,000 after purchasing an additional 18,025 shares during the period. Nisa Investment Advisors LLC raised its stake in Permian Resources by 151.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 17,179 shares of the company’s stock valued at $234,000 after purchasing an additional 10,346 shares during the period. New York State Teachers Retirement System raised its stake in Permian Resources by 42.8% during the 3rd quarter. New York State Teachers Retirement System now owns 197,179 shares of the company’s stock valued at $2,684,000 after purchasing an additional 59,099 shares during the period. River Road Asset Management LLC raised its stake in Permian Resources by 0.9% during the 3rd quarter. River Road Asset Management LLC now owns 5,002,382 shares of the company’s stock valued at $68,082,000 after purchasing an additional 43,885 shares during the period. Finally, Callahan Advisors LLC raised its stake in Permian Resources by 25.7% during the 3rd quarter. Callahan Advisors LLC now owns 14,674 shares of the company’s stock valued at $200,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Down 2.9 %

Shares of NYSE:PR opened at $12.57 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 1 year low of $12.28 and a 1 year high of $18.28. The firm has a fifty day moving average price of $14.66 and a 200 day moving average price of $14.43. The stock has a market capitalization of $10.09 billion, a PE ratio of 7.62, a P/E/G ratio of 4.05 and a beta of 4.28.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is 41.96%.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, 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 transaction of $134,043.30. Following the completion of the sale, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PR. Morgan Stanley began coverage on shares of Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 target price on the stock. Citigroup cut their target price on shares of Permian Resources from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. Truist Financial upped their price target 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, Piper Sandler upped their price target on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Permian Resources currently has a consensus rating of “Moderate Buy” and an average price target of $19.06.

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.