New Mexico Educational Retirement Board Has $1.87 Million Stock Position in Permian Resources Co. (NYSE:PR)

New Mexico Educational Retirement Board grew its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 33.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 129,868 shares of the company's stock after buying an additional 32,368 shares during the quarter. New Mexico Educational Retirement Board's holdings in Permian Resources were worth $1,868,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Yaupon Capital Management LP grew its position in Permian Resources by 225.0% in the third quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company's stock valued at $51,016,000 after acquiring an additional 2,595,137 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Permian Resources by 58.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company's stock worth $74,811,000 after purchasing an additional 2,023,742 shares during the last quarter. Perpetual Ltd acquired a new stake in shares of Permian Resources during the 4th quarter worth about $27,104,000. Geode Capital Management LLC lifted its holdings in Permian Resources by 17.6% during the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company's stock valued at $148,957,000 after purchasing an additional 1,638,618 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Permian Resources by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company's stock valued at $247,042,000 after buying an additional 1,543,854 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley began 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 raised their price target on 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 boosted their price objective on Permian Resources from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.13.

Insider Buying and Selling at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the company's stock in a transaction dated 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. This represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 12.80% of the company's stock.

Permian Resources Trading Up 0.0 %

Shares of NYSE:PR traded up $0.00 during trading on Thursday, hitting $14.62. 9,269,185 shares of the company's stock were exchanged, compared to its average volume of 7,383,195. 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 $11.75 billion, a P/E ratio of 8.86, a PEG ratio of 3.96 and a beta of 4.28. The firm has a 50-day moving average price of $14.70 and a two-hundred day moving average price of $14.47. Permian Resources Co. has a 1-year low of $12.62 and a 1-year high of $18.28.

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.