28,070 Shares in Permian Resources Co. (NYSE:PR) Bought by Allianz SE

Allianz SE purchased a new position in shares of Permian Resources Co. (NYSE:PR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 28,070 shares of the company’s stock, valued at approximately $397,000.

Several other hedge funds also recently made changes to their positions in PR. Yaupon Capital Management LP boosted its holdings in shares of Permian Resources by 225.0% during the 3rd quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock worth $51,016,000 after buying an additional 2,595,137 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Permian Resources by 58.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock worth $74,811,000 after acquiring an additional 2,023,742 shares during the period. Perpetual Ltd bought a new stake in Permian Resources during the fourth quarter worth $27,104,000. Geode Capital Management LLC boosted its stake in Permian Resources by 17.6% in the third 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 in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Permian Resources by 19.8% in the 4th 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 in the last quarter. 91.84% of the stock is owned by institutional investors.

Permian Resources Trading Down 1.6 %

Shares of PR stock opened at $13.73 on Monday. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 1 year low of $11.84 and a 1 year high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The company’s fifty day simple moving average is $14.14 and its two-hundred day simple moving average is $14.37.

Permian Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.15 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.37%. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

Insider Transactions at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the sale, the chief accounting officer now owns 58,668 shares of the company’s stock, valued at $822,525.36. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares in the company, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,446 shares of company stock valued at $269,731. 12.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PR has been the topic of a number of recent research reports. Truist Financial boosted their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Williams Trading set a $19.00 target price on Permian Resources in a report on Wednesday, March 5th. Citigroup downgraded shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Susquehanna upgraded 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 report on Wednesday, March 5th. Finally, Piper Sandler lowered their target price on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Permian Resources has an average rating of “Moderate Buy” and an average price target of $19.31.

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.