Dean Investment Associates LLC Purchases New Stake in Permian Resources Co. (NYSE:PR)

Dean Investment Associates LLC bought a new stake in shares of Permian Resources Co. (NYSE:PR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 204,222 shares of the company's stock, valued at approximately $2,937,000.

Several other institutional investors also recently modified their holdings of PR. Kingsview Wealth Management LLC bought a new position in shares of Permian Resources during the 4th quarter valued at approximately $632,000. Wright Investors Service Inc. purchased a new position in shares of Permian Resources in the 4th quarter worth approximately $498,000. Charles Schwab Investment Management Inc. grew its stake in Permian Resources by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company's stock worth $62,407,000 after buying an additional 176,320 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Permian Resources by 36.9% in the 4th quarter. New York State Teachers Retirement System now owns 269,905 shares of the company's stock valued at $3,881,000 after purchasing an additional 72,726 shares during the last quarter. Finally, Perpetual Ltd purchased a new stake in shares of Permian Resources during the fourth quarter valued at $27,104,000. 91.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Permian Resources news, Director William J. Quinn bought 500,000 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the acquisition, the director now owns 812,429 shares in the company, valued at $10,618,447.03. This trade represents a 160.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the transaction, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,685 shares of company stock worth $135,687 over the last three months. Insiders own 12.80% of the company's stock.

Permian Resources Stock Down 0.4 %

PR traded down $0.05 during trading on Wednesday, reaching $11.81. 4,280,190 shares of the stock were exchanged, compared to its average volume of 9,691,893. Permian Resources Co. has a twelve month low of $10.01 and a twelve month high of $17.62. The stock has a market cap of $9.49 billion, a P/E ratio of 7.16, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81. The stock's 50 day moving average price is $12.92 and its two-hundred day moving average price is $14.08. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources's dividend payout ratio (DPR) is presently 41.96%.

Wall Street Analyst Weigh In

PR has been the subject of several recent research reports. Piper Sandler cut their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Truist Financial lifted their price target on Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Williams Trading set a $19.00 target price on shares of Permian Resources in a research note on Wednesday, March 5th. Royal Bank of Canada cut their price objective on Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, Citigroup downgraded Permian Resources from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a 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 $18.67.

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.