17,489 Shares in Permian Resources Co. (NYSE:PR) Purchased by EntryPoint Capital LLC

EntryPoint Capital LLC bought a new stake in shares of Permian Resources Co. (NYSE:PR) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 17,489 shares of the company’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Securities Inc. increased 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 purchasing an additional 852 shares during the period. ORG Wealth Partners LLC bought a new position in Permian Resources during the fourth quarter valued at about $31,000. Global Retirement Partners LLC raised its holdings in 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 acquiring an additional 1,232 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Permian Resources by 1,152.5% in the 4th 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 period. Finally, Lindbrook Capital LLC increased its position in shares of Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after purchasing an additional 2,155 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PR shares. JPMorgan Chase & Co. reduced 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. Morgan Stanley decreased their target price on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and increased their price target for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Piper Sandler decreased their price objective on Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Finally, Williams Trading set a $19.00 target price on Permian Resources in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.31.

Insider Buying and Selling

In other news, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Charles Bell sold 2,804 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the sale, the executive vice president now directly owns 74,433 shares of the company’s stock, valued at approximately $1,044,294.99. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,446 shares of company stock worth $269,731 in the last quarter. Insiders own 12.80% of the company’s stock.

Permian Resources Stock Down 1.6 %

Shares of NYSE:PR opened at $13.73 on Friday. Permian Resources Co. has a 12 month low of $11.84 and a 12 month high of $18.28. The firm has a market cap of $11.03 billion, a P/E ratio of 8.32, a P/E/G ratio of 4.05 and a beta of 4.30. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $14.14 and its two-hundred day moving average price is $14.35.

Permian Resources Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio is currently 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.