Jackson Creek Investment Advisors LLC Takes $260,000 Position in Permian Resources Co. (NYSE:PR)

Jackson Creek Investment Advisors LLC acquired a new position in Permian Resources Co. (NYSE:PR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,086 shares of the company’s stock, valued at approximately $260,000.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its stake in Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after acquiring an additional 852 shares during the period. ORG Wealth Partners LLC purchased a new stake in Permian Resources in the fourth quarter worth about $31,000. Global Retirement Partners LLC raised its holdings in Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after purchasing an additional 1,232 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Permian Resources by 294.8% in the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after purchasing an additional 2,155 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in Permian Resources by 33.4% in the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after purchasing an additional 800 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Permian Resources Price Performance

Shares of NYSE:PR opened at $12.68 on Friday. Permian Resources Co. has a twelve month low of $11.84 and a twelve month high of $18.28. The company’s 50 day moving average is $14.58 and its 200 day moving average is $14.39. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The company has a market cap of $10.18 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30.

Permian Resources Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.73%. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

Insider Buying and Selling

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the sale, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Robert Regan Shannon sold 2,731 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $14.02, for a total value of $38,288.62. Following the completion of the sale, the chief accounting officer now owns 58,668 shares in the company, valued at approximately $822,525.36. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,446 shares of company stock worth $269,731. 12.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Susquehanna upgraded shares of Permian Resources from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $17.00 to $20.00 in a report on Wednesday. Morgan Stanley assumed coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price for the company. Citigroup reduced their target price on shares of Permian Resources from $18.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Truist Financial boosted 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. Finally, Piper Sandler reduced their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $19.31.

About Permian Resources

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.