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

Princeton Capital Management LLC trimmed its holdings in Permian Resources Co. (NYSE:PR) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,234 shares of the company’s stock after selling 2,610 shares during the period. Princeton Capital Management LLC’s holdings in Permian Resources were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PR. Principal Securities Inc. raised its holdings in 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 buying an additional 852 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Permian Resources during the fourth quarter worth $31,000. Global Retirement Partners LLC boosted its stake in Permian Resources by 98.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after purchasing an additional 1,232 shares during the period. Rakuten Securities Inc. increased its holdings in Permian Resources by 1,152.5% during the 4th quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after purchasing an additional 2,305 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after buying an additional 2,155 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Permian Resources Trading Up 2.8 %

Shares of PR stock opened at $14.17 on Tuesday. The stock has a market cap of $11.38 billion, a P/E ratio of 8.58, a price-to-earnings-growth ratio of 4.05 and a beta of 4.30. Permian Resources Co. has a 1 year low of $11.84 and a 1 year high of $18.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $14.28 and a 200 day simple moving average of $14.34.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Monday, March 17th. Permian Resources’s dividend payout ratio (DPR) is currently 41.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Williams Trading set a $19.00 price target on shares of Permian Resources in a research note on Wednesday, March 5th. Morgan Stanley started coverage on Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target for the company. Susquehanna upgraded Permian Resources from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $17.00 to $20.00 in a research note on Wednesday, March 5th. Piper Sandler decreased their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. dropped 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 report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and an average price target of $19.31.

Insiders Place Their Bets

In other news, CAO Robert Regan Shannon sold 2,731 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $14.02, for a total value of $38,288.62. Following the sale, the chief accounting officer now directly owns 58,668 shares in the company, valued at approximately $822,525.36. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J. Quinn acquired 500,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $13.07 per share, with a total value of $6,535,000.00. Following the purchase, the director now owns 812,429 shares in the company, valued at $10,618,447.03. The trade was a 160.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 18,446 shares of company stock worth $269,731 over the last ninety days. Corporate insiders own 12.80% of the company’s stock.

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.