Lido Advisors LLC Increases Stock Position in Permian Resources Co. (NYSE:PR)

Lido Advisors LLC raised its position in shares of Permian Resources Co. (NYSE:PR) by 65.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 759,244 shares of the company’s stock after buying an additional 300,262 shares during the quarter. Lido Advisors LLC owned about 0.09% of Permian Resources worth $10,918,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PR. Principal Securities Inc. lifted its position in Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after buying an additional 852 shares during the period. ORG Wealth Partners LLC bought a new position in shares of Permian Resources during the fourth quarter valued at $31,000. Global Retirement Partners LLC increased its holdings in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after acquiring an additional 1,232 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock valued at $36,000 after acquiring an additional 2,305 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC bought a new position in shares of Permian Resources during the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler reduced their price target on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Morgan Stanley reduced their price objective on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. JPMorgan Chase & Co. reduced their price objective on Permian Resources from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Williams Trading set a $19.00 price objective on Permian Resources in a report on Wednesday, March 5th. Finally, Susquehanna reduced their price objective on Permian Resources from $20.00 to $19.00 and set a “positive” rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $18.67.

Insider Activity

In other news, EVP John Charles Bell sold 2,804 shares of Permian Resources stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $14.03, for a total transaction of $39,340.12. Following the transaction, the executive vice president now directly owns 74,433 shares of the company’s stock, valued at $1,044,294.99. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William J. Quinn purchased 500,000 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $13.07 per share, with a total value of $6,535,000.00. Following the completion of the purchase, the director now directly owns 812,429 shares in the company, valued at $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. Insiders have sold a total of 9,685 shares of company stock valued at $135,687 in the last ninety days. Corporate insiders own 12.80% of the company’s stock.

Permian Resources Trading Up 1.1 %

Shares of NYSE:PR opened at $12.39 on Tuesday. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 4.05 and a beta of 3.81. 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 50-day simple moving average is $12.75 and its two-hundred day simple moving average is $14.02. Permian Resources Co. has a 52-week low of $10.01 and a 52-week high of $17.62.

Permian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.15 per share. The ex-dividend date was Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.84%. Permian Resources’s payout ratio is currently 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.