Mariner LLC Sells 3,606 Shares of Permian Resources Co. (NYSE:PR)

Mariner LLC cut its stake in shares of Permian Resources Co. (NYSE:PR) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,707 shares of the company’s stock after selling 3,606 shares during the period. Mariner LLC’s holdings in Permian Resources were worth $772,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PR. Principal Securities Inc. increased 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 valued at $29,000 after purchasing an additional 852 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Permian Resources during the 4th quarter valued at $31,000. Global Retirement Partners LLC increased its position 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 valued at $36,000 after purchasing an additional 1,232 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Permian Resources by 1,152.5% during 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 last quarter. Finally, RE Dickinson Investment Advisors LLC purchased a new stake in shares of Permian Resources during the 4th quarter valued at $41,000. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Stock Performance

NYSE PR opened at $12.39 on Tuesday. Permian Resources Co. has a 1 year low of $10.01 and a 1 year high of $17.62. 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 stock has a market capitalization of $9.96 billion, a PE ratio of 7.51, a P/E/G ratio of 4.05 and a beta of 3.81. The company’s 50 day simple moving average is $12.75 and its two-hundred day simple moving average is $14.02.

Permian Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Monday, March 17th. Permian Resources’s dividend payout ratio is presently 41.96%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on Permian Resources from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Morgan Stanley decreased their target price on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Truist Financial lifted their price objective on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Citigroup lowered Permian Resources from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Finally, Bank of America decreased their price objective on Permian Resources from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.67.

Insiders Place Their Bets

In other news, Director William J. Quinn bought 500,000 shares of the stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $13.07 per share, for a total transaction of $6,535,000.00. Following the purchase, the director now directly owns 812,429 shares of the company’s stock, valued at $10,618,447.03. This trade represents a 160.04 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy M. Oliphint sold 4,150 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $13.99, for a total transaction of $58,058.50. Following the sale, the chief financial officer now owns 130,467 shares in the company, valued at approximately $1,825,233.33. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,685 shares of company stock worth $135,687 in the last three months. 12.80% of the stock is currently owned by corporate insiders.

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.