Dana Investment Advisors Inc. Has $8.06 Million Holdings in Permian Resources Co. (NYSE:PR)

Dana Investment Advisors Inc. cut its holdings in shares of Permian Resources Co. (NYSE:PR) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 560,163 shares of the company’s stock after selling 32,296 shares during the period. Dana Investment Advisors Inc.’s holdings in Permian Resources were worth $8,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PR. Principal Securities Inc. boosted its holdings in shares of Permian Resources by 73.6% in 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 stake in Permian Resources in the 4th quarter valued at $31,000. Global Retirement Partners LLC boosted its stake in Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after purchasing an additional 1,232 shares during the period. Sunbelt Securities Inc. increased its holdings in Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after purchasing an additional 800 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Permian Resources in the 3rd quarter valued at about $45,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PR has been the subject of several recent research reports. Piper Sandler upped their price objective on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Citigroup reduced their price target on Permian Resources from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley assumed coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective on the stock. Truist Financial raised their target price on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Susquehanna upgraded shares of Permian Resources from a “neutral” rating to a “positive” rating and lifted their price target for the company from $17.00 to $20.00 in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $19.38.

Insiders Place Their Bets

In other Permian Resources news, EVP John Charles Bell sold 2,804 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total transaction of $39,340.12. Following the completion of the sale, the executive vice president now directly owns 74,433 shares in the company, valued at $1,044,294.99. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,446 shares of company stock valued at $269,731 over the last ninety days. 12.80% of the stock is currently owned by company insiders.

Permian Resources Price Performance

NYSE:PR opened at $12.46 on Thursday. 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 12-month low of $11.84 and a 12-month high of $18.28. The stock’s 50 day moving average price is $14.63 and its two-hundred day moving average price is $14.42. The firm has a market capitalization of $10.01 billion, a price-to-earnings ratio of 7.55, a P/E/G ratio of 4.05 and a beta of 4.28.

Permian Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.82%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio is 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.