67,816 Shares in Permian Resources Co. (NYSE:PR) Bought by Westover Capital Advisors LLC

Westover Capital Advisors LLC bought a new position in shares of Permian Resources Co. (NYSE:PR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 67,816 shares of the company’s stock, valued at approximately $975,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Securities Inc. raised its holdings in shares of Permian Resources by 73.6% during the fourth 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 period. ORG Wealth Partners LLC acquired a new stake in shares of Permian Resources in the 4th quarter worth about $31,000. Global Retirement Partners LLC raised its holdings in shares of Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after acquiring an additional 1,232 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after acquiring an additional 800 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Permian Resources in the 3rd quarter worth about $45,000. 91.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.80% of the stock is owned by insiders.

Permian Resources Stock Down 8.2 %

PR opened at $12.94 on Tuesday. The company has a 50 day moving average of $14.69 and a 200 day moving average of $14.45. The company has a market cap of $10.40 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 4.05 and a beta of 4.28. Permian Resources Co. has a 12 month low of $12.62 and a 12 month high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PR shares. Piper Sandler upped their target price on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley assumed coverage on shares of Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective for the company. Finally, Truist Financial upped 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.13.

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.