Mutual of America Capital Management LLC Sells 8,723 Shares of Permian Resources Co. (NYSE:PR)

Mutual of America Capital Management LLC reduced its stake in Permian Resources Co. (NYSE:PR) by 1.1% during the 4th quarter, Holdings Channel reports. The fund owned 752,998 shares of the company’s stock after selling 8,723 shares during the period. Mutual of America Capital Management LLC’s holdings in Permian Resources were worth $10,828,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its position in shares of Permian Resources by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock valued at $2,540,000 after acquiring an additional 700 shares during the period. Sunbelt Securities Inc. raised its stake in Permian Resources by 33.4% in 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. CIBC Asset Management Inc boosted its holdings in Permian Resources by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 15,703 shares of the company’s stock valued at $226,000 after purchasing an additional 805 shares during the period. Principal Securities Inc. grew its position 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 worth $29,000 after purchasing an additional 852 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Permian Resources by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 129,520 shares of the company’s stock worth $1,862,000 after purchasing an additional 900 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 12.80% of the stock is currently owned by company insiders.

Permian Resources Price Performance

Shares of NYSE:PR opened at $14.09 on Friday. Permian Resources Co. has a one year low of $12.62 and a one year high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 4.05 and a beta of 4.28. The firm has a 50 day simple moving average of $14.70 and a 200 day simple moving average of $14.46.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Monday, March 17th. Permian Resources’s payout ratio is 36.36%.

Analyst Upgrades and Downgrades

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