Permian Resources Co. (NYSE:PR) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. lessened its stake in Permian Resources Co. (NYSE:PR) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 38,878 shares of the company’s stock after selling 1,675 shares during the period. Navellier & Associates Inc.’s holdings in Permian Resources were worth $559,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Permian Resources by 6.1% in the 3rd quarter. State Street Corp now owns 22,027,153 shares of the company’s stock valued at $299,790,000 after purchasing an additional 1,263,460 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Permian Resources by 9.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock valued at $247,042,000 after purchasing an additional 1,543,854 shares during the last quarter. Geode Capital Management LLC increased its holdings in Permian Resources by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock valued at $148,957,000 after purchasing an additional 1,638,618 shares during the last quarter. Jennison Associates LLC increased its holdings in Permian Resources by 19.8% in the 4th quarter. Jennison Associates LLC now owns 9,159,252 shares of the company’s stock valued at $131,710,000 after purchasing an additional 1,511,923 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Permian Resources by 58.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after buying an additional 2,023,742 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Buying and Selling at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.80% of the stock is currently owned by company insiders.

Permian Resources Price Performance

Shares of PR opened at $14.03 on Friday. Permian Resources Co. has a 1-year low of $12.62 and a 1-year high of $18.28. The stock has a market cap of $11.27 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 4.05 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 firm has a fifty day moving average price of $14.68 and a 200 day moving average price of $14.48.

Analyst Ratings Changes

Several equities analysts have commented on PR shares. Morgan Stanley started coverage on shares of Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target for the company. Truist Financial raised 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. Finally, Piper Sandler raised their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Permian Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.13.

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.