Atlas Wealth LLC Acquires New Holdings in Permian Resources Co. (NYSE:PR)

Atlas Wealth LLC bought a new position in Permian Resources Co. (NYSE:PR) during the 4th quarter, Holdings Channel reports. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $144,000.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. raised 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 worth $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 4th quarter valued at about $31,000. Global Retirement Partners LLC boosted its position in shares of 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 acquiring an additional 1,232 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after purchasing an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of 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 during the last quarter. 91.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Robert Regan Shannon sold 2,731 shares of the business’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 sale, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at $822,525.36. The trade was a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction that occurred on 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 directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,446 shares of company stock valued at $269,731 over the last ninety days. Company insiders own 12.80% of the company’s stock.

Permian Resources Stock Performance

Shares of PR opened at $13.79 on Friday. The company has a 50-day simple moving average of $14.30 and a two-hundred day simple moving average of $14.33. 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 firm has a market capitalization of $11.08 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a one year low of $11.84 and a one year high of $18.28.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.35%. Permian Resources’s dividend payout ratio is presently 41.96%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PR. Citigroup lowered shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Morgan Stanley began coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target for the company. Susquehanna upgraded 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 report on Wednesday, March 5th. Piper Sandler dropped 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. Finally, Williams Trading set a $19.00 price objective on Permian Resources in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.35.

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.