Envestnet Portfolio Solutions Inc. Has $282,000 Stock Position in Permian Resources Co. (NYSE:PR)

Envestnet Portfolio Solutions Inc. lifted its stake in Permian Resources Co. (NYSE:PR) by 27.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,644 shares of the company’s stock after buying an additional 4,260 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Permian Resources were worth $282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PR. Quest Partners LLC bought a new stake in shares of Permian Resources during the third quarter worth $150,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Permian Resources by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,163,553 shares of the company’s stock valued at $56,666,000 after buying an additional 457,478 shares during the last quarter. Raymond James Trust N.A. acquired a new position in Permian Resources during the 3rd quarter worth about $216,000. Cerity Partners LLC grew its holdings in Permian Resources by 13.7% during the 3rd quarter. Cerity Partners LLC now owns 482,291 shares of the company’s stock worth $6,564,000 after acquiring an additional 58,238 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Permian Resources by 20.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 579,375 shares of the company’s stock valued at $7,885,000 after acquiring an additional 100,056 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Price Performance

Shares of PR opened at $13.94 on Friday. 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 twelve month low of $11.84 and a twelve month high of $18.28. The stock has a market capitalization of $11.20 billion, a P/E ratio of 8.45, a P/E/G ratio of 4.05 and a beta of 4.30. The company has a 50 day moving average of $14.18 and a 200-day moving average of $14.34.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

Analysts Set New Price Targets

Several research firms have recently commented on PR. JPMorgan Chase & Co. decreased their price target on shares of Permian Resources from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Truist Financial increased their price objective on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Citigroup cut 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 Permian Resources in a research note on Wednesday, March 5th. Finally, Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $17.00 to $20.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

Insider Buying and Selling 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 transaction of $134,043.30. Following the sale, the chief financial officer now owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total transaction of $38,288.62. Following the completion of the transaction, the chief accounting officer now directly owns 58,668 shares of the company’s stock, valued at $822,525.36. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,446 shares of company stock worth $269,731. 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.