JFG Wealth Management LLC Takes Position in Permian Resources Co. (NYSE:PR)

JFG Wealth Management LLC acquired a new position in shares of Permian Resources Co. (NYSE:PR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 88,029 shares of the company’s stock, valued at approximately $1,266,000.

Other large investors have also modified their holdings of the company. Principal Securities Inc. lifted its holdings in shares of Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after buying an additional 852 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Permian Resources during the 4th quarter valued at $31,000. Global Retirement Partners LLC raised its stake in Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after purchasing an additional 1,232 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in shares of Permian Resources by 33.4% in the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after buying an additional 800 shares during the period. Finally, Blue Trust Inc. raised its holdings in Permian Resources by 399.5% in the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after acquiring an additional 2,629 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the business’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 sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.80% of the company’s stock.

Permian Resources Trading Down 2.9 %

PR opened at $13.65 on Wednesday. Permian Resources Co. has a 1-year low of $12.62 and a 1-year high of $18.28. The firm has a 50-day moving average price of $14.67 and a two-hundred day moving average price of $14.48. The stock has a market capitalization of $10.97 billion, a PE ratio of 8.27, a PEG ratio of 4.05 and a beta of 4.28. 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 Dividend Announcement

The business 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. This represents a $0.60 annualized dividend and a yield of 4.40%. Permian Resources’s dividend payout ratio (DPR) is presently 36.36%.

Wall Street Analysts Forecast Growth

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