Securian Asset Management Inc. Sells 1,237 Shares of Permian Resources Co. (NYSE:PR)

Securian Asset Management Inc. trimmed its stake in Permian Resources Co. (NYSE:PR) by 2.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 48,109 shares of the company’s stock after selling 1,237 shares during the period. Securian Asset Management Inc.’s holdings in Permian Resources were worth $692,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principal Securities Inc. lifted 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 bought a new stake in shares of Permian Resources in the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its stake 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 valued at $36,000 after purchasing an additional 1,232 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Permian Resources by 294.8% during the 4th 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 last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Permian Resources by 33.4% during 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. 91.84% of the stock is owned by institutional investors.

Insider Activity

In related news, Director William J. Quinn purchased 500,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the acquisition, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the sale, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,446 shares of company stock worth $269,731. 12.80% of the stock is currently owned by company insiders.

Permian Resources Trading Up 5.4 %

Shares of NYSE:PR opened at $13.63 on Monday. Permian Resources Co. has a 12-month low of $11.84 and a 12-month high of $18.28. The business’s fifty day simple moving average is $14.42 and its 200-day simple moving average is $14.34. The company has a market capitalization of $10.95 billion, a PE ratio of 8.26, a P/E/G ratio of 4.05 and a beta of 4.30. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.40%. Permian Resources’s dividend payout ratio is presently 41.96%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PR shares. Williams Trading set a $19.00 price target on Permian Resources in a research note on Wednesday, March 5th. Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and raised their price target for the stock from $17.00 to $20.00 in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday. Piper Sandler decreased their price target 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, Truist Financial raised their price objective on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, one has given 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 currently has a consensus rating of “Moderate Buy” and an average target price of $19.35.

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.