Permian Resources Co. (NYSE:PR) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its position in shares of Permian Resources Co. (NYSE:PR) by 12.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,430 shares of the company’s stock after buying an additional 2,368 shares during the period. Summit Trail Advisors LLC’s holdings in Permian Resources were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Wright Investors Service Inc. purchased a new position in Permian Resources in the fourth quarter valued at $498,000. Point72 Asset Management L.P. increased its position in shares of Permian Resources by 58.3% in 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 buying an additional 2,023,742 shares in the last quarter. Tributary Capital Management LLC raised its stake in shares of Permian Resources by 8,360.8% during the 3rd quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock worth $699,000 after buying an additional 50,750 shares during the period. South Street Advisors LLC purchased a new position in shares of Permian Resources during the 3rd quarter valued at approximately $7,142,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Permian Resources in the 3rd quarter valued at $556,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Permian Resources

In related 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 value of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 12.80% of the stock is currently owned by insiders.

Permian Resources Stock Down 4.9 %

Shares of PR opened at $14.28 on Thursday. The stock has a fifty day simple moving average of $14.76 and a two-hundred day simple moving average of $14.49. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $11.47 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 3.96 and a beta of 4.28. Permian Resources Co. has a 52-week low of $12.62 and a 52-week high of $18.28.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PR shares. 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. 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 note on Wednesday, January 29th. Benchmark lowered their price objective 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, Morgan Stanley initiated coverage on Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 target price for the company. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.13.

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.