Trust Point Inc. Has $637,000 Stock Holdings in Permian Resources Co. (NYSE:PR)

Trust Point Inc. boosted its holdings in shares of Permian Resources Co. (NYSE:PR - Free Report) by 179.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 44,272 shares of the company's stock after purchasing an additional 28,435 shares during the period. Trust Point Inc.'s holdings in Permian Resources were worth $637,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of Permian Resources by 6.1% in the third quarter. State Street Corp now owns 22,027,153 shares of the company's stock valued at $299,790,000 after acquiring an additional 1,263,460 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Permian Resources by 9.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company's stock worth $247,042,000 after buying an additional 1,543,854 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Permian Resources by 17.6% during the third quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company's stock worth $148,957,000 after buying an additional 1,638,618 shares in the last quarter. Jennison Associates LLC boosted its holdings in Permian Resources by 19.8% during the fourth quarter. Jennison Associates LLC now owns 9,159,252 shares of the company's stock worth $131,710,000 after buying an additional 1,511,923 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Permian Resources by 58.3% during 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 during the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Permian Resources Trading Up 0.5 %

PR stock traded up $0.08 during mid-day trading on Friday, reaching $14.38. 5,339,854 shares of the stock traded hands, compared to its average volume of 6,673,372. 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 $11.55 billion, a P/E ratio of 8.71, a P/E/G ratio of 3.96 and a beta of 4.28. The stock's fifty day moving average is $14.79 and its 200-day moving average is $14.51.

Permian Resources (NYSE:PR - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a net margin of 21.20% and a return on equity of 11.15%. The firm's revenue was up 60.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, sell-side analysts expect that Permian Resources Co. will post 1.45 earnings per share for the current year.

Analyst Ratings Changes

PR has been the subject of a number of recent analyst reports. Truist Financial boosted their target price on shares of Permian Resources from $20.00 to $23.00 and gave the company a "buy" rating in a report on Monday, January 13th. Benchmark lowered their target price on shares of Permian Resources from $17.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, October 16th. Piper Sandler boosted their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Morgan Stanley started coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an "overweight" rating and a $19.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $17.00 price target on shares of Permian Resources in a report on Monday, October 14th. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.13.

Insider Activity

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the company'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 transaction of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares of the company's stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.80% of the stock is owned by insiders.

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.