Rhumbline Advisers Acquires 24,152 Shares of Permian Resources Co. (NYSE:PR)

Rhumbline Advisers lifted its position in Permian Resources Co. (NYSE:PR - Free Report) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,682,022 shares of the company's stock after purchasing an additional 24,152 shares during the quarter. Rhumbline Advisers owned about 0.21% of Permian Resources worth $24,187,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PR. Kingsview Wealth Management LLC purchased a new position in Permian Resources in the fourth quarter worth about $632,000. Wright Investors Service Inc. purchased a new position in Permian Resources in the fourth quarter worth about $498,000. Point72 Asset Management L.P. grew its position in Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company's stock worth $74,811,000 after acquiring an additional 2,023,742 shares in the last quarter. Tributary Capital Management LLC grew its position in Permian Resources by 8,360.8% in the third quarter. Tributary Capital Management LLC now owns 51,357 shares of the company's stock worth $699,000 after acquiring an additional 50,750 shares in the last quarter. Finally, South Street Advisors LLC purchased a new position in Permian Resources in the third quarter worth about $7,142,000. 91.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

PR has been the subject of several recent research reports. Morgan Stanley initiated coverage on Permian Resources in a research report on Friday, January 10th. They issued an "overweight" rating and a $19.00 price target for the company. Piper Sandler lifted their price target on Permian Resources from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, Truist Financial lifted their price target on Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $19.13.

Insider Activity

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 value of $134,043.30. Following the completion of the transaction, the chief financial officer now owns 134,617 shares of the company's stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 12.80% of the company's stock.

Permian Resources Trading Down 4.4 %

Shares of Permian Resources stock traded down $0.65 on Friday, hitting $13.99. 5,126,178 shares of the company traded hands, compared to its average volume of 7,307,167. The stock's 50 day moving average price is $14.70 and its 200-day moving average price is $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. Permian Resources Co. has a 52 week low of $12.62 and a 52 week high of $18.28. The company has a market cap of $11.23 billion, a PE ratio of 8.47, a PEG ratio of 4.04 and a beta of 4.28.

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.