New York State Teachers Retirement System Boosts Holdings in Permian Resources Co. (NYSE:PR)

New York State Teachers Retirement System boosted its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 36.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 269,905 shares of the company's stock after purchasing an additional 72,726 shares during the period. New York State Teachers Retirement System's holdings in Permian Resources were worth $3,881,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new stake in shares of Permian Resources in the 4th quarter valued at approximately $31,000. Sunbelt Securities Inc. raised its stake in shares of Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock valued at $43,000 after acquiring an additional 800 shares during the period. Blue Trust Inc. raised its stake in shares of Permian Resources by 399.5% in the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company's stock valued at $45,000 after acquiring an additional 2,629 shares during the period. National Bank of Canada FI purchased a new stake in shares of Permian Resources in the 3rd quarter valued at approximately $45,000. Finally, Hilltop National Bank purchased a new stake in shares of Permian Resources in the 4th quarter valued at approximately $58,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 134,617 shares of the company's stock, valued at $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Morgan Stanley initiated coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an "overweight" rating and a $19.00 price objective for the company. Finally, Piper Sandler lifted their price objective 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 investment 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.com, Permian Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.13.

Permian Resources Stock Down 4.1 %

Shares of NYSE:PR traded down $0.61 during trading hours on Friday, reaching $14.03. The stock had a trading volume of 9,341,560 shares, compared to its average volume of 7,440,768. Permian Resources Co. has a 1 year low of $12.62 and a 1 year high of $18.28. The firm's 50 day moving average is $14.70 and its 200-day moving average is $14.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market capitalization 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.

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.