Permian Resources Co. (NASDAQ:PR) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC trimmed its stake in Permian Resources Co. (NASDAQ:PRFree Report) by 67.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,504 shares of the company’s stock after selling 281,258 shares during the quarter. First Eagle Investment Management LLC’s holdings in Permian Resources were worth $1,906,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Chilton Capital Management LLC lifted its position in shares of Permian Resources by 50.0% during the second quarter. Chilton Capital Management LLC now owns 3,000 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Quarry LP acquired a new stake in Permian Resources in the first quarter valued at $33,000. Clearstead Advisors LLC acquired a new stake in Permian Resources in the third quarter valued at $45,000. Sandia Investment Management LP acquired a new stake in Permian Resources in the first quarter valued at $52,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Permian Resources in the third quarter valued at $64,000. 53.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on PR shares. Piper Sandler lowered their price target on shares of Permian Resources from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. UBS Group decreased their target price on shares of Permian Resources from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, December 14th. Citigroup upped their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Benchmark upped their price objective on shares of Permian Resources from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. Finally, Bank of America started coverage on shares of Permian Resources in a research note on Friday, January 5th. They set a “neutral” rating and a $15.00 price objective for the company. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.40.

Check Out Our Latest Analysis on Permian Resources

Insiders Place Their Bets

In related news, major shareholder Encap Partners Gp, Llc sold 7,507,508 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $12.93, for a total value of $97,072,078.44. Following the transaction, the insider now owns 29,027,950 shares in the company, valued at $375,331,393.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Encap Partners Gp, Llc sold 7,507,508 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $12.93, for a total value of $97,072,078.44. Following the sale, the insider now directly owns 29,027,950 shares of the company’s stock, valued at $375,331,393.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Guy M. Oliphint sold 8,975 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $13.68, for a total value of $122,778.00. Following the completion of the sale, the chief financial officer now directly owns 92,638 shares in the company, valued at $1,267,287.84. The disclosure for this sale can be found here. Insiders have sold 7,916,483 shares of company stock worth $102,558,856 in the last 90 days. Company insiders own 23.14% of the company’s stock.

Permian Resources Trading Up 2.0 %

NASDAQ:PR opened at $13.13 on Wednesday. Permian Resources Co. has a twelve month low of $8.94 and a twelve month high of $15.49. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $13.29 and a two-hundred day moving average price of $13.39. The company has a market cap of $10.16 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.06 and a beta of 4.32.

Permian Resources (NASDAQ:PRGet Free Report) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Permian Resources had a net margin of 11.02% and a return on equity of 12.03%. The business had revenue of $758.54 million during the quarter, compared to the consensus estimate of $721.55 million. As a group, analysts expect that Permian Resources Co. will post 1.36 EPS for the current fiscal year.

Permian Resources Profile

(Free Report)

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. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company's properties consist of acreage blocks in Reeves County, West Texas and Lea County, New Mexico.

Featured Articles

Want to see what other hedge funds are holding PR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Permian Resources Co. (NASDAQ:PRFree Report).

Institutional Ownership by Quarter for Permian Resources (NASDAQ:PR)

Receive News & Ratings for Permian Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Permian Resources and related companies with MarketBeat.com's FREE daily email newsletter.