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

Navellier & Associates Inc. trimmed its position in shares of Permian Resources Co. (NYSE:PR) by 4.1% during the fourth quarter, HoldingsChannel reports. The fund owned 38,878 shares of the company’s stock after selling 1,675 shares during the quarter. Navellier & Associates Inc.’s holdings in Permian Resources were worth $559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PR. CWM LLC boosted its holdings in Permian Resources by 74.2% during the third quarter. CWM LLC now owns 8,682 shares of the company’s stock worth $118,000 after buying an additional 3,698 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after purchasing an additional 2,629 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Permian Resources in the third quarter valued at about $343,000. Louisiana State Employees Retirement System lifted its holdings in shares of Permian Resources by 21.1% in the third quarter. Louisiana State Employees Retirement System now owns 175,900 shares of the company’s stock valued at $2,394,000 after purchasing an additional 30,600 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Permian Resources in the third quarter valued at about $202,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on 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 owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.80% of the stock is currently owned by insiders.

Permian Resources Stock Performance

NYSE:PR opened at $14.03 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. The company has a market cap of $11.27 billion, a P/E ratio of 8.50, a P/E/G ratio of 4.05 and a beta of 4.28. Permian Resources Co. has a fifty-two week low of $12.62 and a fifty-two week high of $18.28. The firm’s 50 day moving average is $14.68 and its two-hundred day moving average is $14.48.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target on the stock. Truist Financial upped their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Piper Sandler upped their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.