Orion Portfolio Solutions LLC Trims Position in Permian Resources Co. (NYSE:PR)

Orion Portfolio Solutions LLC lowered its stake in Permian Resources Co. (NYSE:PR) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,755 shares of the company’s stock after selling 1,580 shares during the period. Orion Portfolio Solutions LLC’s holdings in Permian Resources were worth $2,125,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PR. Principal Securities Inc. boosted its stake in shares of 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 in the last quarter. ORG Wealth Partners LLC bought a new stake in Permian Resources during the 4th quarter valued at approximately $31,000. Global Retirement Partners LLC grew its holdings in shares of Permian Resources by 98.4% during the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after acquiring an additional 1,232 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Permian Resources by 1,152.5% in the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after purchasing an additional 2,305 shares during the period. Finally, Lindbrook Capital LLC boosted its position in shares of Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after purchasing an additional 2,155 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Price Performance

Shares of Permian Resources stock opened at $13.80 on Wednesday. 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. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s fifty day moving average is $14.06 and its 200 day moving average is $14.37. Permian Resources Co. has a one year low of $11.84 and a one year high of $18.28.

Permian Resources Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources 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 sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the transaction, the chief accounting officer now 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. In the last quarter, insiders sold 18,446 shares of company stock worth $269,731. Corporate insiders own 12.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PR. Williams Trading set a $19.00 price objective on Permian Resources in a report on Wednesday, March 5th. Truist Financial increased their price target 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. Morgan Stanley lowered their price target on shares of Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Bank of America cut their price objective on shares of Permian Resources from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Permian Resources currently has an average rating of “Moderate Buy” and a consensus target price of $19.13.

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.