Creative Financial Designs Inc. ADV Buys Shares of 63,075 Permian Resources Co. (NYSE:PR)

Creative Financial Designs Inc. ADV bought a new stake in shares of Permian Resources Co. (NYSE:PR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 63,075 shares of the company’s stock, valued at approximately $907,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PR. Kingsview Wealth Management LLC purchased a new stake in shares of Permian Resources in the fourth quarter worth $632,000. Wright Investors Service Inc. purchased a new stake in shares of Permian Resources in the fourth quarter worth $498,000. Point72 Asset Management L.P. increased its stake in shares of Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock worth $74,811,000 after purchasing an additional 2,023,742 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Permian Resources by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company’s stock worth $62,407,000 after purchasing an additional 176,320 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Permian Resources in the third quarter worth $556,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PR shares. Piper Sandler reduced their price objective on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Susquehanna upgraded shares of Permian Resources from a “neutral” rating to a “positive” rating and upped their target price for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. Citigroup lowered shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Truist Financial upped their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Williams Trading set a $19.00 target price on shares of Permian Resources in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.35.

Insider Transactions at Permian Resources

In related news, Director William J. Quinn purchased 500,000 shares of Permian Resources stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the purchase, the director now directly owns 812,429 shares of the company’s stock, valued at approximately $10,618,447.03. This represents a 160.04 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Guy M. Oliphint sold 8,761 shares of the firm’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 transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,446 shares of company stock worth $269,731. 12.80% of the stock is currently owned by insiders.

Permian Resources Price Performance

Permian Resources stock opened at $13.61 on Tuesday. The firm has a 50-day moving average price of $14.39 and a 200-day moving average price of $14.34. The firm has a market capitalization of $10.93 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. 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 Co. has a 12-month low of $11.84 and a 12-month high of $18.28.

Permian Resources Dividend Announcement

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 is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.41%. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

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.