Pictet Asset Management Holding SA Has $1.17 Million Holdings in Permian Resources Co. (NYSE:PR)

Pictet Asset Management Holding SA lifted its holdings in shares of Permian Resources Co. (NYSE:PR) by 12.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,300 shares of the company’s stock after purchasing an additional 8,969 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Permian Resources were worth $1,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. 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 worth $29,000 after purchasing an additional 852 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Permian Resources during the 4th quarter worth approximately $31,000. Global Retirement Partners LLC boosted 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 worth $36,000 after acquiring an additional 1,232 shares in the last quarter. Rakuten Securities Inc. increased its stake in Permian Resources by 1,152.5% in 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 during the last quarter. Finally, Lindbrook Capital LLC raised its position in Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock valued at $42,000 after purchasing an additional 2,155 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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 on Monday, March 3rd. The shares were sold at an average price of $14.03, for a total value 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 approximately $1,044,294.99. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Guy M. Oliphint sold 4,150 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $13.99, for a total transaction of $58,058.50. Following the transaction, the chief financial officer now owns 130,467 shares in the company, valued at $1,825,233.33. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,685 shares of company stock worth $135,687. Company insiders own 12.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PR. JPMorgan Chase & Co. decreased their price target on Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Citigroup downgraded Permian Resources from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Williams Trading set a $19.00 price target on shares of Permian Resources in a research note on Wednesday, March 5th. Truist Financial upped their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock 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 raised their target price for the company from $17.00 to $20.00 in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.13.

Permian Resources Stock Down 12.4 %

Permian Resources stock opened at $10.74 on Friday. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 4.05 and a beta of 3.81. Permian Resources Co. has a 52-week low of $10.62 and a 52-week high of $18.28. 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 firm has a 50 day moving average price of $13.87 and a two-hundred day moving average price of $14.34.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 yield of 5.59%. Permian Resources’s dividend payout ratio (DPR) 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.