Van ECK Associates Corp Sells 110,070 Shares of Permian Resources Co. (NYSE:PR)

Van ECK Associates Corp reduced its position in shares of Permian Resources Co. (NYSE:PR - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,541,089 shares of the company's stock after selling 110,070 shares during the period. Van ECK Associates Corp owned approximately 0.19% of Permian Resources worth $22,161,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PR. CWM LLC raised its position in Permian Resources by 74.2% during the third quarter. CWM LLC now owns 8,682 shares of the company's stock valued at $118,000 after purchasing an additional 3,698 shares in the last quarter. Bleakley Financial Group LLC raised its position in Permian Resources by 13.6% during the third 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 in the last quarter. Secure Asset Management LLC raised its position in Permian Resources by 32.4% during the third quarter. Secure Asset Management LLC now owns 111,558 shares of the company's stock valued at $1,518,000 after purchasing an additional 27,331 shares in the last quarter. Blue Trust Inc. raised its position in Permian Resources by 399.5% during the third 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 in the last quarter. Finally, Venture Visionary Partners LLC increased its holdings in shares of Permian Resources by 8.9% during the third quarter. Venture Visionary Partners LLC now owns 124,750 shares of the company's stock worth $1,698,000 after buying an additional 10,150 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PR has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Piper Sandler upped their price target on shares of Permian Resources from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Finally, Morgan Stanley initiated coverage on shares of Permian Resources in a report on Friday, January 10th. They set an "overweight" rating and a $19.00 price target for the company. Two equities research 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $19.13.

Permian Resources Trading Up 1.9 %

PR traded up $0.28 during trading on Tuesday, reaching $14.45. 6,983,538 shares of the stock traded hands, compared to its average volume of 7,176,208. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $11.60 billion, a PE ratio of 8.74, a P/E/G ratio of 3.96 and a beta of 4.28. The stock's 50-day moving average is $14.72 and its 200 day moving average is $14.47. Permian Resources Co. has a 12 month low of $12.62 and a 12 month high of $18.28.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the company's stock in a transaction 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 sale, the chief financial officer now owns 134,617 shares of the company's stock, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 12.80% of the company's stock.

Permian Resources 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.