Empowered Funds LLC Purchases 520,595 Shares of Permian Resources Co. (NYSE:PR)

Empowered Funds LLC grew its position in Permian Resources Co. (NYSE:PR) by 266.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 715,739 shares of the company’s stock after buying an additional 520,595 shares during the period. Empowered Funds LLC’s holdings in Permian Resources were worth $10,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PR. Wright Investors Service Inc. acquired a new stake in Permian Resources in the 4th quarter valued at $498,000. Point72 Asset Management L.P. lifted its holdings in shares of Permian Resources by 58.3% during 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 period. Tributary Capital Management LLC boosted its stake in shares of Permian Resources by 8,360.8% in the 3rd quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock valued at $699,000 after purchasing an additional 50,750 shares in the last quarter. South Street Advisors LLC bought a new stake in shares of Permian Resources in the 3rd quarter worth about $7,142,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Permian Resources during the 3rd quarter worth about $556,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Ratings Changes

PR has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley initiated coverage on Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price objective on shares of Permian Resources in a research report on Monday, October 14th. Benchmark decreased their target price on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Piper Sandler raised their target price on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Permian Resources currently has an average rating of “Moderate Buy” and a consensus target price of $19.13.

Permian Resources Trading Up 0.5 %

Shares of NYSE PR opened at $14.38 on Monday. Permian Resources Co. has a fifty-two week low of $12.62 and a fifty-two week high of $18.28. The firm has a market capitalization of $11.55 billion, a P/E ratio of 8.71, a P/E/G ratio of 3.96 and a beta of 4.28. 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 company’s 50 day simple moving average is $14.79 and its 200 day simple moving average is $14.50.

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 dated Friday, January 3rd. The stock was sold at an average price of $15.30, for a total value of $134,043.30. Following the completion of the sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate 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.