136,181 Shares in Permian Resources Co. (NYSE:PR) Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new stake in shares of Permian Resources Co. (NYSE:PR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 136,181 shares of the company’s stock, valued at approximately $1,958,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Permian Resources by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,163,553 shares of the company’s stock worth $56,666,000 after buying an additional 457,478 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Permian Resources by 20.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 579,375 shares of the company’s stock worth $7,885,000 after acquiring an additional 100,056 shares during the last quarter. Townsquare Capital LLC bought a new stake in shares of Permian Resources during the 3rd quarter valued at $257,000. MetLife Investment Management LLC increased its stake in shares of Permian Resources by 20.1% in the 3rd quarter. MetLife Investment Management LLC now owns 334,684 shares of the company’s stock worth $4,555,000 after purchasing an additional 55,980 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Permian Resources by 7.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 190,152 shares of the company’s stock worth $2,588,000 after purchasing an additional 12,722 shares during the period. 91.84% of the stock is owned by institutional investors.

Permian Resources Price Performance

NYSE:PR opened at $13.73 on Monday. The firm 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. 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 business has a 50 day simple moving average of $14.14 and a 200-day simple moving average of $14.37. Permian Resources Co. has a 1 year low of $11.84 and a 1 year high of $18.28.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 4.37%. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

Analyst Ratings Changes

Several research firms recently issued reports on PR. Truist Financial increased 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. Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and increased their target price for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Morgan Stanley lowered their price target on Permian Resources from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday. Citigroup cut shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler dropped their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.31.

Insiders Place Their Bets

In other news, 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Robert Regan Shannon sold 2,731 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction 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. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,446 shares of company stock valued at $269,731 over the last 90 days. Insiders own 12.80% of the company’s stock.

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.