Cerity Partners LLC Has $9.10 Million Holdings in Permian Resources Co. (NYSE:PR)

Cerity Partners LLC increased its stake in Permian Resources Co. (NYSE:PR - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 636,775 shares of the company's stock after purchasing an additional 154,484 shares during the period. Cerity Partners LLC owned approximately 0.08% of Permian Resources worth $9,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. boosted its holdings 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 purchasing an additional 852 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Permian Resources during the 4th quarter worth about $31,000. Global Retirement Partners LLC grew its holdings in shares of Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after acquiring an additional 1,232 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after acquiring an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after purchasing an additional 2,155 shares during the last quarter. Institutional investors own 91.84% of the company's stock.

Permian Resources Stock Performance

Permian Resources stock traded up $0.44 during midday trading on Wednesday, hitting $11.46. The company's stock had a trading volume of 3,623,454 shares, compared to its average volume of 9,059,238. 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 company has a market cap of $9.21 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 1-year low of $10.01 and a 1-year high of $17.83. The company has a 50-day moving average price of $13.20 and a two-hundred day moving average price of $14.16.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.24%. Permian Resources's payout ratio is 41.96%.

Insider Activity at Permian Resources

In other news, EVP John Charles Bell sold 2,804 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the transaction, the executive vice president now directly owns 74,433 shares in the company, valued at approximately $1,044,294.99. The trade was a 3.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Guy M. Oliphint sold 4,150 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $13.99, for a total transaction of $58,058.50. Following the sale, the chief financial officer now owns 130,467 shares in the company, valued at $1,825,233.33. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,685 shares of company stock worth $135,687. Company insiders own 12.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PR shares. Piper Sandler dropped 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. Susquehanna raised shares of Permian Resources from a "neutral" rating to a "positive" rating and upped their target price for the company from $17.00 to $20.00 in a report on Wednesday, March 5th. Bank of America reduced their price target on Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Royal Bank of Canada dropped their price objective on Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, Citigroup cut Permian Resources from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Permian Resources has an average rating of "Moderate Buy" and an average target price of $18.73.

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.