JFG Wealth Management LLC Takes Position in Permian Resources Co. (NYSE:PR)

JFG Wealth Management LLC acquired a new position in shares of Permian Resources Co. (NYSE:PR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 88,029 shares of the company’s stock, valued at approximately $1,266,000.

A number of other institutional investors have also made changes to their positions in PR. Blue Trust Inc. grew its holdings in Permian Resources by 399.5% during the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after purchasing an additional 2,629 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Permian Resources in the 3rd quarter valued at $343,000. Louisiana State Employees Retirement System increased its position in shares of Permian Resources by 21.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 175,900 shares of the company’s stock valued at $2,394,000 after buying an additional 30,600 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Permian Resources in the 3rd quarter valued at $202,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Permian Resources by 1.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 158,234 shares of the company’s stock worth $2,154,000 after buying an additional 2,360 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.80% of the stock is currently owned by corporate insiders.

Permian Resources Stock Down 2.9 %

Shares of PR stock opened at $13.65 on Wednesday. The firm’s fifty day moving average price is $14.67 and its two-hundred day moving average price is $14.48. 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 $12.62 and a 1 year high of $18.28. The firm has a market capitalization of $10.97 billion, a P/E ratio of 8.27, a PEG ratio of 4.05 and a beta of 4.28.

Permian Resources Announces Dividend

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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.40%. Permian Resources’s dividend payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley initiated coverage on Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price for the company. Piper Sandler boosted their price objective on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Truist Financial increased their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.13.

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.