Allspring Global Investments Holdings LLC Acquires 90,686 Shares of Permian Resources Co. (NYSE:PR)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Permian Resources Co. (NYSE:PR) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 629,844 shares of the company’s stock after buying an additional 90,686 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Permian Resources were worth $9,359,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PR. Yaupon Capital Management LP lifted its stake in Permian Resources by 225.0% during the third quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock worth $51,016,000 after purchasing an additional 2,595,137 shares during the last quarter. Point72 Asset Management L.P. lifted its stake 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 purchasing an additional 2,023,742 shares during the last quarter. Perpetual Ltd bought a new stake in Permian Resources during the fourth quarter worth about $27,104,000. Geode Capital Management LLC lifted its stake 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 purchasing an additional 1,638,618 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Permian Resources by 9.3% in 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 during the period. Institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

Shares of NYSE:PR opened at $14.31 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 3.96 and a beta of 4.28. Permian Resources Co. has a 12 month low of $12.62 and a 12 month high of $18.28. The firm’s 50-day moving average is $14.71 and its 200 day moving average is $14.47.

Insider Transactions at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Permian Resources Company 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.