Permian Resources Co. (NYSE:PR) Shares Bought by Legal & General Group Plc

Legal & General Group Plc grew its stake in shares of Permian Resources Co. (NYSE:PR - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 995,395 shares of the company's stock after acquiring an additional 41,271 shares during the quarter. Legal & General Group Plc owned about 0.12% of Permian Resources worth $14,314,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Securities Inc. boosted its stake in shares of Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after purchasing an additional 852 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Permian Resources during the fourth quarter worth approximately $31,000. Global Retirement Partners LLC lifted its stake 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 during the period. Rakuten Securities Inc. increased its stake in shares of Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after acquiring an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock worth $42,000 after acquiring an additional 2,155 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PR shares. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research report on Wednesday, March 5th. Susquehanna raised shares of Permian Resources from a "neutral" rating to a "positive" rating and boosted their price target for the stock from $17.00 to $20.00 in a report on Wednesday, March 5th. Truist Financial boosted their target price 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. 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, April 14th. Finally, Bank of America decreased their target price on Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. 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.com, the company has an average rating of "Moderate Buy" and an average price target of $18.73.

Permian Resources Stock Performance

Shares of Permian Resources stock traded down $0.39 during trading on Monday, reaching $11.65. The company's stock had a trading volume of 1,355,797 shares, compared to its average volume of 9,666,078. The company has a 50-day moving average price of $13.02 and a two-hundred day moving average price of $14.12. 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 firm has a market cap of $9.36 billion, a PE ratio of 7.08, a P/E/G ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a fifty-two week low of $10.01 and a fifty-two week high of $17.62.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources's dividend payout ratio (DPR) is currently 41.96%.

Insiders Place Their Bets

In related news, Director William J. Quinn acquired 500,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the purchase, the director now directly owns 812,429 shares of the company's stock, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $14.03, for a total transaction of $39,340.12. Following the transaction, the executive vice president now directly owns 74,433 shares in the company, valued at approximately $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 ninety days, insiders have sold 9,685 shares of company stock worth $135,687. 12.80% of the stock is owned by corporate insiders.

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.