Jackson Creek Investment Advisors LLC Takes Position in Permian Resources Co. (NYSE:PR)

Jackson Creek Investment Advisors LLC bought a new stake in shares of Permian Resources Co. (NYSE:PR) during the fourth quarter, Holdings Channel reports. The fund bought 18,086 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PR. Yaupon Capital Management LP lifted its position in shares of Permian Resources by 225.0% during the 3rd quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock valued at $51,016,000 after buying an additional 2,595,137 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Permian Resources by 58.3% during the 3rd 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 during the last quarter. Perpetual Ltd acquired a new stake in Permian Resources during the 4th quarter worth $27,104,000. Geode Capital Management LLC boosted its stake in Permian Resources by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock worth $148,957,000 after purchasing an additional 1,638,618 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Permian Resources by 9.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock worth $247,042,000 after purchasing an additional 1,543,854 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Up 1.9 %

Shares of PR opened at $12.68 on Friday. The firm has a market cap of $10.18 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 12-month low of $11.84 and a 12-month high of $18.28. The company’s 50-day moving average price is $14.58 and its 200 day moving average price is $14.39. 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 Announces Dividend

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 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 yield of 4.73%. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PR shares. Susquehanna raised shares of Permian Resources from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $17.00 to $20.00 in a research note on Wednesday. Truist Financial lifted their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Piper Sandler lowered their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday. Morgan Stanley started coverage on shares of Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 target price on the stock. Finally, Citigroup lowered their target price on shares of Permian Resources from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $19.31.

Insider Activity at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 2,731 shares of the business’s stock in a transaction dated 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 in the company, valued at $822,525.36. This represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief financial officer now owns 134,617 shares in the company, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,446 shares of company stock worth $269,731. Company insiders own 12.80% of the company’s stock.

Permian Resources 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.