Kingsview Wealth Management LLC Purchases Shares of 43,967 Permian Resources Co. (NYSE:PR)

Kingsview Wealth Management LLC purchased a new stake in Permian Resources Co. (NYSE:PR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,967 shares of the company's stock, valued at approximately $632,000.

Other hedge funds have also recently bought and sold shares of the company. ORG Wealth Partners LLC bought a new stake in Permian Resources in the 4th quarter valued at $31,000. Sunbelt Securities Inc. lifted its holdings in shares of Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock worth $43,000 after acquiring an additional 800 shares during the period. Blue Trust Inc. lifted its holdings in shares of Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company's stock worth $45,000 after acquiring an additional 2,629 shares during the period. National Bank of Canada FI bought a new position in shares of Permian Resources during the 3rd quarter worth about $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Permian Resources during the 3rd quarter worth about $57,000. 91.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley started coverage on shares of Permian Resources in a report on Friday, January 10th. They set an "overweight" rating and a $19.00 price objective for the company. Truist Financial lifted 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 raised 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. Two research 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.13.

Permian Resources Trading Down 0.3 %

Shares of NYSE:PR traded down $0.04 during trading on Friday, hitting $14.17. 7,359,950 shares of the company's stock were exchanged, compared to its average volume of 6,673,372. Permian Resources Co. has a 1-year low of $12.62 and a 1-year high of $18.28. The firm has a 50-day moving average price of $14.73 and a two-hundred day moving average price of $14.47. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.38 billion, a P/E ratio of 8.59, a PEG ratio of 3.96 and a beta of 4.28.

Insider Transactions at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the business's 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 completion of the transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.80% of the stock is owned by corporate insiders.

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.