Tower Research Capital LLC TRC Has $605,000 Stock Position in Permian Resources Co. (NYSE:PR)

Tower Research Capital LLC TRC increased its stake in Permian Resources Co. (NYSE:PR - Free Report) by 160.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,091 shares of the company's stock after acquiring an additional 25,930 shares during the period. Tower Research Capital LLC TRC's holdings in Permian Resources were worth $605,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Principal Securities Inc. boosted its holdings 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 position in Permian Resources in the fourth quarter valued at $31,000. Global Retirement Partners LLC grew its position in Permian Resources by 98.4% during 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 position in Permian Resources by 1,152.5% during the fourth 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 during the period. Finally, RE Dickinson Investment Advisors LLC acquired a new stake in Permian Resources during the fourth quarter worth about $41,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Truist Financial increased their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Morgan Stanley reduced their target price on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Piper Sandler lowered their target price on Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Finally, Royal Bank of Canada reduced their target price on shares of Permian Resources from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Permian Resources presently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

Insider Activity

In related news, CAO Robert Regan Shannon sold 2,731 shares of the business'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 transaction of $38,288.62. Following the sale, the chief accounting officer now owns 58,668 shares of the company's stock, valued at $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy M. Oliphint sold 4,150 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was 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 of the company's stock, valued at approximately $1,825,233.33. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,685 shares of company stock valued at $135,687. Company insiders own 6.44% of the company's stock.

Permian Resources Stock Down 3.4 %

Shares of PR stock traded down $0.42 during trading hours on Wednesday, hitting $11.78. 9,120,638 shares of the company were exchanged, compared to its average volume of 9,756,361. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 7.14, a P/E/G ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a one year low of $10.01 and a one year high of $17.62. The business's 50-day simple moving average is $12.70 and its two-hundred day simple moving average is $14.00.

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 given a $0.15 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.09%. Permian Resources's payout ratio is currently 41.96%.

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.