Versor Investments LP Lowers Holdings in Permian Resources Co. (NYSE:PR)

Versor Investments LP lowered its position in Permian Resources Co. (NYSE:PR) by 38.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,063 shares of the company’s stock after selling 12,537 shares during the quarter. Versor Investments LP’s holdings in Permian Resources were worth $289,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its position in shares of 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 in the last quarter. Sunbelt Securities Inc. lifted its stake in Permian Resources by 33.4% in the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after acquiring an additional 800 shares during the period. CIBC Asset Management Inc lifted 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 worth $226,000 after acquiring an additional 805 shares during the period. Principal Securities Inc. increased its position in Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after purchasing an additional 852 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Permian Resources by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company’s stock valued at $1,862,000 after purchasing an additional 900 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 value 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 trade represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 12.80% of the company’s stock.

Permian Resources Stock Down 8.2 %

PR stock opened at $12.94 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 52 week low of $12.62 and a 52 week high of $18.28. The stock has a market capitalization of $10.40 billion, a PE ratio of 7.84, a price-to-earnings-growth ratio of 4.05 and a beta of 4.28. The firm has a 50 day moving average of $14.69 and a 200 day moving average of $14.45.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is presently 41.96%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PR shares. Truist Financial increased their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler upped their target price on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley initiated coverage on Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $19.13.

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.