Allspring Global Investments Holdings LLC Grows Holdings in Permian Resources Co. (NYSE:PR)

Allspring Global Investments Holdings LLC boosted its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 16.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 629,844 shares of the company's stock after buying an additional 90,686 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Permian Resources worth $9,359,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC increased its position in Permian Resources by 74.2% during the 3rd quarter. CWM LLC now owns 8,682 shares of the company's stock valued at $118,000 after purchasing an additional 3,698 shares during the period. Bleakley Financial Group LLC increased its position in Permian Resources by 13.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 14,934 shares of the company's stock valued at $203,000 after purchasing an additional 1,784 shares during the period. Blue Trust Inc. increased its position in Permian Resources by 399.5% during the 3rd 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 during the period. Venture Visionary Partners LLC increased its position in Permian Resources by 8.9% during the 3rd quarter. Venture Visionary Partners LLC now owns 124,750 shares of the company's stock valued at $1,698,000 after purchasing an additional 10,150 shares during the period. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Permian Resources during the 3rd quarter valued at $343,000. 91.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PR. Morgan Stanley began coverage on shares of Permian Resources in a research report on Friday, January 10th. They issued an "overweight" rating and a $19.00 target price on the stock. Piper Sandler increased their price objective 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. Finally, Truist Financial increased their price objective 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.13.

Insider Transactions at Permian Resources

In related 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 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 approximately $2,059,640.10. This represents a 6.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.80% of the company's stock.

Permian Resources Stock Performance

Shares of NYSE:PR traded down $0.61 during trading on Friday, hitting $14.03. The company's stock had a trading volume of 9,340,595 shares, compared to its average volume of 7,440,753. The company has a 50-day moving average of $14.70 and a 200-day moving average of $14.47. Permian Resources Co. has a 12 month low of $12.62 and a 12 month high of $18.28. 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 market cap of $11.27 billion, a price-to-earnings ratio of 8.50, a P/E/G ratio of 4.04 and a beta of 4.28.

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.