L. Roy Papp & Associates LLP Grows Position in Permian Resources Co. (NYSE:PR)

L. Roy Papp & Associates LLP boosted its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 55.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,540 shares of the company's stock after purchasing an additional 20,185 shares during the quarter. L. Roy Papp & Associates LLP's holdings in Permian Resources were worth $813,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Summit Trail Advisors LLC grew its position in Permian Resources by 12.4% in the 4th quarter. Summit Trail Advisors LLC now owns 21,430 shares of the company's stock valued at $308,000 after purchasing an additional 2,368 shares during the period. MADDEN SECURITIES Corp raised its stake in shares of Permian Resources by 1.5% during the 4th quarter. MADDEN SECURITIES Corp now owns 68,975 shares of the company's stock worth $992,000 after purchasing an additional 1,000 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of Permian Resources by 68.7% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 3,636,091 shares of the company's stock worth $52,288,000 after purchasing an additional 1,481,360 shares during the period. Empowered Funds LLC raised its stake in shares of Permian Resources by 266.8% during the 4th quarter. Empowered Funds LLC now owns 715,739 shares of the company's stock worth $10,292,000 after purchasing an additional 520,595 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Permian Resources during the 4th quarter worth $632,000. Institutional investors and hedge funds own 91.84% of the company's stock.

Permian Resources Price Performance

NYSE:PR traded down $0.04 during mid-day trading on Friday, reaching $14.17. The stock had a trading volume of 7,359,950 shares, compared to its average volume of 6,673,372. The firm has a 50 day moving average price of $14.73 and a two-hundred day moving average price of $14.48. The stock has a market capitalization of $11.38 billion, a P/E ratio of 8.59, a P/E/G ratio of 3.96 and a beta of 4.28. Permian Resources Co. has a one year low of $12.62 and a one year high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Insider Buying and Selling

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the business'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 completion of the sale, 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 SEC, which can be accessed through this hyperlink. 12.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler lifted their target price on Permian Resources from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Truist Financial boosted their price objective on Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, January 13th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $19.13.

Permian Resources Company 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.