Orion Portfolio Solutions LLC Sells 1,580 Shares of Permian Resources Co. (NYSE:PR)

Orion Portfolio Solutions LLC decreased its position in shares of Permian Resources Co. (NYSE:PR) by 1.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 147,755 shares of the company’s stock after selling 1,580 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Permian Resources were worth $2,125,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Permian Resources by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 140,548 shares of the company’s stock worth $2,021,000 after purchasing an additional 662 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Permian Resources by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock worth $2,540,000 after buying an additional 700 shares during the last quarter. Sunbelt Securities Inc. increased its position in Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after buying an additional 800 shares in the last quarter. CIBC Asset Management Inc raised its stake in Permian Resources by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 15,703 shares of the company’s stock valued at $226,000 after buying an additional 805 shares during the last quarter. Finally, Principal Securities Inc. boosted its holdings in 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 acquiring an additional 852 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Insider Transactions at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William J. Quinn purchased 500,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $13.07 per share, for a total transaction of $6,535,000.00. Following the acquisition, the director now owns 812,429 shares in the company, valued at approximately $10,618,447.03. This trade represents a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 18,446 shares of company stock worth $269,731. Company insiders own 12.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Williams Trading set a $19.00 price target on shares of Permian Resources in a research note on Wednesday, March 5th. Susquehanna raised Permian Resources from a “neutral” rating to a “positive” rating and upped their target price for the company 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 for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. cut their price objective on Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Truist Financial lifted their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.13.

Permian Resources Stock Down 0.4 %

Shares of NYSE:PR opened at $13.80 on Wednesday. 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 stock has a market cap of $11.08 billion, a P/E ratio of 8.36, a P/E/G 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 firm has a fifty day moving average price of $14.06 and a 200 day moving average price of $14.37.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

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.