Invesco Ltd. Raises Holdings in Permian Resources Co. (NYSE:PR)

Invesco Ltd. increased its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 56.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,920,750 shares of the company's stock after purchasing an additional 2,845,449 shares during the quarter. Invesco Ltd. owned 0.99% of Permian Resources worth $113,900,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PR. Principal Securities Inc. boosted its stake 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 buying an additional 852 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Permian Resources in the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its holdings 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 acquiring an additional 1,232 shares during the period. Rakuten Securities Inc. boosted its position in Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after purchasing an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Permian Resources by 294.8% during the 4th quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock worth $42,000 after purchasing an additional 2,155 shares during the period. Hedge funds and other institutional investors own 91.84% of the company's stock.

Permian Resources Price Performance

PR stock traded up $0.54 during midday trading on Friday, reaching $12.04. The stock had a trading volume of 13,331,521 shares, compared to its average volume of 9,677,165. Permian Resources Co. has a 52-week low of $10.01 and a 52-week high of $17.67. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The company's fifty day simple moving average is $13.08 and its 200 day simple moving average is $14.13. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 7.29, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81.

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 paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.99%. The ex-dividend date was Monday, March 17th. Permian Resources's dividend payout ratio is currently 41.96%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PR shares. JPMorgan Chase & Co. lowered their price target on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Williams Trading set a $19.00 target price on shares of Permian Resources in a research note on Wednesday, March 5th. Susquehanna upgraded Permian Resources from a "neutral" rating to a "positive" rating and lifted their price target for the company from $17.00 to $20.00 in a research note on Wednesday, March 5th. Citigroup downgraded Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada cut their price objective on Permian Resources from $18.00 to $16.00 and set an "outperform" rating for the company in a research report on Monday. One equities 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 stock. According to MarketBeat, Permian Resources has a consensus rating of "Moderate Buy" and an average target price of $18.73.

Insider Buying and Selling

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at $822,525.36. This represents a 4.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Charles Bell sold 2,804 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total value of $39,340.12. Following the completion of the sale, the executive vice president now directly owns 74,433 shares of the company's stock, valued at $1,044,294.99. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,685 shares of company stock worth $135,687. 12.80% of the stock is owned by insiders.

About Permian Resources

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.