SRS Capital Advisors Inc. Boosts Stake in Permian Resources Co. (NYSE:PR)

SRS Capital Advisors Inc. raised its holdings in Permian Resources Co. (NYSE:PR) by 42,277.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,207 shares of the company’s stock after purchasing an additional 32,131 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Permian Resources were worth $463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its position in Permian Resources by 93.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,634 shares of the company’s stock valued at $51,000 after purchasing an additional 1,751 shares during the period. US Bancorp DE raised its position in Permian Resources by 113.9% in the fourth quarter. US Bancorp DE now owns 20,623 shares of the company’s stock valued at $297,000 after purchasing an additional 10,981 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of Permian Resources in the 4th quarter valued at $196,000. Proficio Capital Partners LLC purchased a new stake in shares of Permian Resources in the 4th quarter valued at $207,000. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Permian Resources by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company’s stock valued at $1,862,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PR. Morgan Stanley began coverage on Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective on the stock. Truist Financial boosted their price objective on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Piper Sandler boosted their price objective on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and a consensus price target of $19.13.

Permian Resources Trading Down 8.2 %

NYSE:PR opened at $12.94 on Tuesday. The stock has a 50-day simple moving average of $14.69 and a 200-day simple moving average of $14.45. The stock has a market cap of $10.40 billion, a P/E ratio of 7.84, a P/E/G ratio of 4.05 and a beta of 4.28. Permian Resources Co. has a 1 year low of $12.62 and a 1 year high of $18.28. 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 Announces Dividend

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

Insider Transactions at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.