RE Dickinson Investment Advisors LLC Makes New $41,000 Investment in Permian Resources Co. (NYSE:PR)

RE Dickinson Investment Advisors LLC bought a new stake in Permian Resources Co. (NYSE:PR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,871 shares of the company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Permian Resources in the 4th quarter valued at about $431,676,000. Invesco Ltd. boosted its stake in shares of Permian Resources by 56.1% in the 4th quarter. Invesco Ltd. now owns 7,920,750 shares of the company’s stock valued at $113,900,000 after purchasing an additional 2,845,449 shares in the last quarter. Perpetual Ltd bought a new stake in Permian Resources during the 4th quarter worth $27,104,000. Geode Capital Management LLC raised its holdings in Permian Resources by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock valued at $148,957,000 after buying an additional 1,638,618 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Permian Resources by 19.8% in the fourth quarter. Jennison Associates LLC now owns 9,159,252 shares of the company’s stock valued at $131,710,000 after purchasing an additional 1,511,923 shares during the period. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

Shares of PR opened at $11.05 on Friday. The stock has a 50-day moving average price of $13.33 and a 200-day moving average price of $14.19. The company has a market cap of $8.87 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 12-month low of $10.01 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 was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.15 dividend. 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 5.43%. Permian Resources’s payout ratio is 41.96%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PR shares. Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Truist Financial upped their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Citigroup lowered shares of Permian Resources from a “buy” rating to a “reduce” rating 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 report on Thursday, March 13th. Finally, Morgan Stanley reduced their target price on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 4,150 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.99, for a total value of $58,058.50. Following the sale, the chief financial officer now owns 130,467 shares in the company, valued at approximately $1,825,233.33. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William J. Quinn bought 500,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $13.07 per share, for a total transaction of $6,535,000.00. Following the completion of the purchase, the director now owns 812,429 shares of the company’s stock, valued at approximately $10,618,447.03. The trade was a 160.04 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 9,685 shares of company stock worth $135,687 over the last three months. Company insiders own 12.80% of the company’s stock.

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.