Princeton Capital Management LLC Has $694,000 Stock Position in Permian Resources Co. (NYSE:PR)

Princeton Capital Management LLC lessened its holdings in shares of Permian Resources Co. (NYSE:PR) by 5.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 48,234 shares of the company’s stock after selling 2,610 shares during the quarter. Princeton Capital Management LLC’s holdings in Permian Resources were worth $694,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PR. Kingsview Wealth Management LLC acquired a new position in Permian Resources during the 4th quarter worth about $632,000. Wright Investors Service Inc. acquired a new position in shares of Permian Resources in the fourth quarter worth approximately $498,000. Point72 Asset Management L.P. boosted its holdings in Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after acquiring an additional 2,023,742 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Permian Resources by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,339,873 shares of the company’s stock valued at $62,407,000 after purchasing an additional 176,320 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in Permian Resources by 36.9% during the 4th quarter. New York State Teachers Retirement System now owns 269,905 shares of the company’s stock worth $3,881,000 after purchasing an additional 72,726 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Up 2.8 %

PR stock opened at $14.17 on Tuesday. The stock’s 50 day moving average is $14.28 and its 200-day moving average is $14.34. Permian Resources Co. has a twelve month low of $11.84 and a twelve month high of $18.28. The firm has a market capitalization of $11.38 billion, a PE ratio of 8.58, a P/E/G ratio of 4.05 and a beta of 4.30. 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 Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 4.24%. Permian Resources’s payout ratio is 41.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PR shares. Citigroup cut shares of Permian Resources from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Truist Financial lifted their price objective on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. cut their target price on Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Williams Trading set a $19.00 price target on Permian Resources in a research note on Wednesday, March 5th. Finally, Morgan Stanley began coverage on Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.31.

Insider Activity

In related news, CAO Robert Regan Shannon sold 2,731 shares of the business’s stock in a transaction dated 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 directly owns 58,668 shares of the company’s stock, valued at approximately $822,525.36. The trade was a 4.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $134,043.30. Following the sale, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $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 worth $269,731 over the last quarter. Insiders own 12.80% of the company’s stock.

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.