35,576 Shares in Permian Resources Co. (NYSE:PR) Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co purchased a new stake in Permian Resources Co. (NYSE:PR) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 35,576 shares of the company’s stock, valued at approximately $512,000.

Other large investors also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Permian Resources by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company’s stock valued at $2,021,000 after purchasing an additional 662 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Permian Resources by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock valued at $2,540,000 after acquiring an additional 700 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of 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 acquiring an additional 800 shares during the period. CIBC Asset Management Inc boosted its position in shares of Permian Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company’s stock worth $226,000 after acquiring an additional 805 shares during the last quarter. Finally, Principal Securities Inc. grew its holdings 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 during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

NYSE:PR opened at $13.73 on Monday. The firm has a 50-day moving average of $14.14 and a two-hundred day moving average 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. The stock has a market cap of $11.03 billion, a P/E ratio of 8.32, a PEG ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 1-year low of $11.84 and a 1-year high of $18.28.

Permian Resources Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.37%. Permian Resources’s dividend payout ratio is presently 41.96%.

Wall Street Analyst Weigh In

PR has been the topic of a number of research analyst reports. Susquehanna upgraded shares of Permian Resources from a “neutral” rating to a “positive” rating and lifted their price target for the company from $17.00 to $20.00 in a report on Wednesday, March 5th. Citigroup cut Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Truist Financial upped their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Piper Sandler reduced their price objective on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, Morgan Stanley dropped their target price 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Permian Resources has an average rating of “Moderate Buy” and an average price target of $19.31.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, 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 transaction of $38,288.62. Following the completion of the transaction, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at $822,525.36. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William J. Quinn bought 500,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the purchase, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 18,446 shares of company stock valued at $269,731 in the last three months. Corporate insiders own 12.80% of the company’s stock.

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.