Dean Capital Management Takes $1.62 Million Position in Permian Resources Co. (NYSE:PR)

Dean Capital Management acquired a new stake in Permian Resources Co. (NYSE:PR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 112,520 shares of the company's stock, valued at approximately $1,618,000.

Several other large investors also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new stake in Permian Resources during the 3rd quarter valued at $57,000. Franklin Resources Inc. lifted its holdings in Permian Resources by 54.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,360,809 shares of the company's stock valued at $19,351,000 after purchasing an additional 482,405 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Permian Resources by 35.3% during the 3rd quarter. Principal Financial Group Inc. now owns 3,984,490 shares of the company's stock valued at $54,235,000 after purchasing an additional 1,038,489 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Permian Resources by 57.9% during the 4th quarter. GAMMA Investing LLC now owns 6,406 shares of the company's stock valued at $92,000 after purchasing an additional 2,348 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Permian Resources by 1.5% during the 4th quarter. Nordea Investment Management AB now owns 278,054 shares of the company's stock valued at $4,007,000 after purchasing an additional 4,115 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 2,804 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.03, for a total value of $39,340.12. Following the transaction, the executive vice president now owns 74,433 shares in the company, valued at $1,044,294.99. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the transaction, the chief accounting officer now owns 58,668 shares in the company, valued at approximately $822,525.36. This represents a 4.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,685 shares of company stock worth $135,687 over the last 90 days. Insiders own 6.44% of the company's stock.

Wall Street Analyst Weigh In

PR has been the subject of several research reports. Truist Financial raised their price target on Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, January 13th. Morgan Stanley dropped their target price on Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Citigroup downgraded Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. Bank of America dropped their target price on Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. dropped their target price on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.67.

Permian Resources Price Performance

Shares of NYSE PR traded up $0.57 during mid-day trading on Monday, reaching $13.58. The company had a trading volume of 5,925,839 shares, compared to its average volume of 9,890,198. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a one year low of $10.01 and a one year high of $16.95. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 4.05 and a beta of 1.20. The business's 50-day simple moving average is $12.47 and its 200 day simple moving average is $13.91.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts predict that Permian Resources Co. will post 1.45 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Monday, June 16th. Permian Resources's dividend payout ratio is presently 37.04%.

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.