LPL Financial LLC Has $3.22 Million Position in Permian Resources Co. (NYSE:PR)

LPL Financial LLC lifted its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,762 shares of the company's stock after purchasing an additional 47,087 shares during the period. LPL Financial LLC's holdings in Permian Resources were worth $3,218,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. boosted its holdings in shares of Permian Resources by 73.6% during the 4th 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 period. ORG Wealth Partners LLC acquired a new position in shares of Permian Resources during the fourth quarter worth approximately $31,000. Global Retirement Partners LLC boosted its position in shares of 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. grew its stake in shares of Permian Resources by 1,152.5% in the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock worth $36,000 after acquiring an additional 2,305 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position 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 during the period. 91.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Bank of America cut their price target on Permian Resources from $19.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Susquehanna raised shares of Permian Resources from a "neutral" rating to a "positive" rating and upped their price objective for the stock from $17.00 to $20.00 in a research note on Wednesday, March 5th. Morgan Stanley cut their price objective on Permian Resources from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Royal Bank of Canada dropped their target price on Permian Resources from $18.00 to $16.00 and set an "outperform" rating for the company in a research report on Monday. One 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.73.

Permian Resources Stock Performance

Permian Resources stock traded up $0.41 during midday trading on Thursday, reaching $11.91. 3,340,673 shares of the company's stock were exchanged, compared to its average volume of 9,140,935. 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 52 week low of $10.01 and a 52 week high of $17.67. The stock's 50-day simple moving average is $13.14 and its 200 day simple moving average is $14.14. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 7.22, a P/E/G ratio of 4.05 and a beta of 3.81.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.04%. The ex-dividend date was Monday, March 17th. Permian Resources's payout ratio is presently 41.96%.

Insider Buying and Selling

In other news, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at approximately $822,525.36. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Guy M. Oliphint sold 4,150 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.99, for a total transaction of $58,058.50. Following the completion of the transaction, the chief financial officer now owns 130,467 shares in the company, valued at $1,825,233.33. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,685 shares of company stock valued at $135,687. Company insiders own 12.80% of the company's stock.

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.