Permian Resources Co. (NYSE:PR) Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL increased its position in shares of Permian Resources Co. (NYSE:PR) by 29.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 155,000 shares of the company’s stock after acquiring an additional 35,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Permian Resources were worth $2,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. boosted its position 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 valued at $29,000 after purchasing an additional 852 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Permian Resources during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its stake 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 purchasing an additional 1,232 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after buying an additional 2,305 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC acquired a new position in Permian Resources in the fourth quarter worth approximately $41,000. 91.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $17.00 to $20.00 in a research note on Wednesday, March 5th. Morgan Stanley decreased their price target on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Williams Trading set a $19.00 price objective on shares of Permian Resources in a research note on Wednesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Bank of America reduced their price target on shares of Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.73.

Permian Resources Trading Up 4.7 %

Shares of NYSE PR opened at $12.04 on Friday. The business has a 50 day simple moving average of $13.08 and a 200 day simple moving average of $14.13. Permian Resources Co. has a 52 week low of $10.01 and a 52 week high of $17.67. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 4.05 and a beta of 3.81. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.99%. Permian Resources’s dividend payout ratio is currently 41.96%.

Insider Activity at Permian Resources

In related news, CFO Guy M. Oliphint sold 4,150 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the transaction, the chief financial officer now directly owns 130,467 shares in the company, valued at approximately $1,825,233.33. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William J. Quinn bought 500,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the transaction, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. The trade was a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 9,685 shares of company stock valued at $135,687. Insiders own 12.80% of the company’s stock.

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.