Versor Investments LP Sells 12,537 Shares of Permian Resources Co. (NYSE:PR)

Versor Investments LP trimmed its position in Permian Resources Co. (NYSE:PR) by 38.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,063 shares of the company’s stock after selling 12,537 shares during the period. Versor Investments LP’s holdings in Permian Resources were worth $289,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. boosted its stake in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Permian Resources during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its holdings in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after purchasing an additional 1,232 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of Permian Resources by 33.4% in 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, National Bank of Canada FI purchased a new stake in shares of Permian Resources in the 3rd quarter worth approximately $45,000. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Down 8.2 %

Permian Resources stock opened at $12.94 on Tuesday. Permian Resources Co. has a one year low of $12.62 and a one year high of $18.28. The stock has a fifty day moving average of $14.69 and a 200 day moving average of $14.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market cap of $10.40 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 4.05 and a beta of 4.28.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.64%. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler lifted their price objective on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley started coverage on Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Finally, 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. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.13.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This trade 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 through the SEC website. 12.80% of the stock is currently owned by corporate insiders.

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.