Oppenheimer & Co. Inc. Takes $813,000 Position in Permian Resources Co. (NASDAQ:PR)

Oppenheimer & Co. Inc. bought a new stake in shares of Permian Resources Co. (NASDAQ:PRFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 58,216 shares of the company’s stock, valued at approximately $813,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PR. Chilton Capital Management LLC grew its holdings in shares of Permian Resources by 50.0% during the 2nd quarter. Chilton Capital Management LLC now owns 3,000 shares of the company’s stock valued at $33,000 after purchasing an additional 1,000 shares during the last quarter. Quarry LP bought a new stake in Permian Resources in the 1st quarter worth $33,000. Clearstead Advisors LLC bought a new stake in Permian Resources in the 3rd quarter worth $45,000. Sandia Investment Management LP bought a new stake in Permian Resources in the 1st quarter worth $52,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Permian Resources in the 3rd quarter worth $64,000. Institutional investors own 53.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PR. Wells Fargo & Company began coverage on shares of Permian Resources in a research report on Wednesday, November 15th. They issued an “overweight” rating and a $17.00 target price for the company. UBS Group dropped 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. Piper Sandler dropped their target price 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. Stifel Nicolaus lowered their price target on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, November 30th. Finally, Benchmark lifted their price target on shares of Permian Resources from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and a consensus price target of $16.40.

Read Our Latest Analysis on Permian Resources

Permian Resources Stock Performance

Shares of NASDAQ PR opened at $13.53 on Friday. The firm has a 50 day moving average of $13.30 and a 200 day moving average of $13.39. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 1.09 and a beta of 4.32. Permian Resources Co. has a 12-month low of $8.94 and a 12-month high of $15.49.

Permian Resources (NASDAQ:PRGet Free Report) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Permian Resources had a net margin of 11.02% and a return on equity of 12.03%. The firm had revenue of $758.54 million for the quarter, compared to analysts’ expectations of $721.55 million. On average, research analysts anticipate that Permian Resources Co. will post 1.36 earnings per share for the current year.

Insider Transactions at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,975 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $13.68, for a total value of $122,778.00. Following the transaction, the chief financial officer now owns 92,638 shares of the company’s stock, valued at $1,267,287.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert John Anderson sold 400,000 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $13.41, for a total transaction of $5,364,000.00. Following the sale, the director now owns 1,594,667 shares of the company’s stock, valued at $21,384,484.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Guy M. Oliphint sold 8,975 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $13.68, for a total transaction of $122,778.00. Following the sale, the chief financial officer now directly owns 92,638 shares in the company, valued at approximately $1,267,287.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,916,483 shares of company stock valued at $102,558,856. 23.14% of the stock is currently owned by corporate insiders.

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.

See Also

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

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