Dean Capital Management Acquires New Shares in Permian Resources Co. (NYSE:PR)

Dean Capital Management acquired a new position in shares of Permian Resources Co. (NYSE:PR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 112,520 shares of the company's stock, valued at approximately $1,618,000.

A number of other institutional investors also recently made changes to their positions in PR. Principal Securities Inc. lifted its holdings in shares of Permian Resources by 73.6% in 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 during the last quarter. ORG Wealth Partners LLC bought a new position in Permian Resources in the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC boosted its position in Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after buying an additional 1,232 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of 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 buying an additional 2,305 shares during the last quarter. Finally, RE Dickinson Investment Advisors LLC acquired a new position in shares of Permian Resources during the fourth quarter worth $41,000. Institutional investors own 91.84% of the company's stock.

Insider Buying and Selling at Permian Resources

In related news, Director William J. Quinn bought 500,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the purchase, the director now directly owns 812,429 shares in the company, valued at $10,618,447.03. The trade was a 160.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Charles Bell sold 2,804 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the completion of the sale, the executive vice president now directly owns 74,433 shares in the company, valued at $1,044,294.99. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,685 shares of company stock valued at $135,687. Corporate insiders own 6.44% of the company's stock.

Permian Resources Stock Up 0.2 %

Shares of NYSE PR traded up $0.03 during trading on Friday, hitting $13.04. 9,695,979 shares of the company traded hands, compared to its average volume of 9,897,964. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 7.90, a P/E/G ratio of 4.05 and a beta of 1.20. The business's fifty day moving average is $12.47 and its 200 day moving average is $13.91. 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 fifty-two week low of $10.01 and a fifty-two week high of $17.27.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share 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 firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company posted $0.25 earnings per share. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that Permian Resources Co. will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a yield of 4.60%. Permian Resources's dividend payout ratio (DPR) is presently 37.04%.

Wall Street Analyst Weigh In

PR has been the subject of several analyst reports. Truist Financial raised their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Susquehanna cut their target price on Permian Resources from $20.00 to $19.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Piper Sandler decreased their price target on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. JPMorgan Chase & Co. cut their price objective on Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Citigroup downgraded shares of Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.67.

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.