Permian Resources Co. (NYSE:PR) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in shares of Permian Resources Co. (NYSE:PR) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,631,747 shares of the company’s stock after acquiring an additional 909,740 shares during the period. Bank of New York Mellon Corp owned about 1.70% of Permian Resources worth $196,025,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PR. Principal Securities Inc. increased its position in shares of Permian Resources by 73.6% in the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after buying an additional 852 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Permian Resources in the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC increased its stake in shares of Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after acquiring an additional 1,232 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after purchasing an additional 800 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after acquiring an additional 2,629 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.80% of the company’s stock.

Permian Resources Trading Up 0.1 %

NYSE:PR opened at $14.04 on Friday. Permian Resources Co. has a 1 year low of $12.62 and a 1 year high of $18.28. The stock has a market cap of $11.28 billion, a P/E ratio of 8.51, a P/E/G ratio of 4.05 and a beta of 4.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50-day simple moving average of $14.69 and a 200-day simple moving average of $14.47.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.15 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.28%. Permian Resources’s dividend payout ratio is currently 36.36%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PR shares. Morgan Stanley initiated coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Piper Sandler boosted their price target on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Truist Financial raised their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Permian Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.13.

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.