First Trust Advisors LP Buys 121,903 Shares of Permian Resources Co. (NYSE:PR)

First Trust Advisors LP boosted its stake in Permian Resources Co. (NYSE:PR - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,335,547 shares of the company's stock after buying an additional 121,903 shares during the period. First Trust Advisors LP owned approximately 0.29% of Permian Resources worth $33,585,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Permian Resources by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company's stock valued at $2,021,000 after buying an additional 662 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Permian Resources by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company's stock valued at $2,540,000 after purchasing an additional 700 shares during the period. CIBC Asset Management Inc increased its holdings in Permian Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 15,703 shares of the company's stock valued at $226,000 after acquiring an additional 805 shares during the last quarter. Principal Securities Inc. grew 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 worth $29,000 after buying an additional 852 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Permian Resources by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company's stock valued at $1,862,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Williams Trading set a $19.00 price objective on Permian Resources in a report on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Citigroup downgraded Permian Resources from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Bank of America lowered their target price on shares of Permian Resources from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Finally, Susquehanna cut their target price on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $18.67.

Insider Activity at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the firm's stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value 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. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,685 shares of company stock worth $135,687 over the last quarter. Company insiders own 12.80% of the company's stock.

Permian Resources Trading Down 2.3 %

Shares of NYSE:PR traded down $0.28 during mid-day trading on Wednesday, reaching $11.92. 1,593,098 shares of the company's stock were exchanged, compared to its average volume of 9,716,192. The firm has a market capitalization of $9.58 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 4.05 and a beta of 3.81. The business's fifty day moving average price is $12.70 and its 200-day moving average price is $14.00. 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 twelve month low of $10.01 and a twelve month high of $17.62.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 5.03%. Permian Resources's payout ratio is 41.96%.

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.