Permian Resources Co. (NYSE:PR) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC decreased its position in shares of Permian Resources Co. (NYSE:PR) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,730,576 shares of the company’s stock after selling 209,409 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Permian Resources were worth $53,646,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. boosted its position in shares of Permian Resources by 73.6% during the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock valued at $29,000 after acquiring an additional 852 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Permian Resources in the fourth quarter valued at about $31,000. Global Retirement Partners LLC lifted its position in Permian Resources by 98.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock valued at $36,000 after buying an additional 1,232 shares during the last quarter. Sunbelt Securities Inc. lifted its position in Permian Resources by 33.4% in the third quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after buying an additional 800 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after buying an additional 2,629 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PR shares. Piper Sandler upped their target price on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley started coverage on shares of Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Finally, Truist Financial upped their target price on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.13.

Insider Buying and Selling

In related news, CFO Guy M. Oliphint sold 8,761 shares of the company’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 transaction of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares in the company, valued at approximately $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.80% of the company’s stock.

Permian Resources Stock Up 1.0 %

PR stock opened at $14.31 on Wednesday. The company’s 50 day moving average price is $14.71 and its 200 day moving average price is $14.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. Permian Resources Co. has a fifty-two week low of $12.62 and a fifty-two week high of $18.28. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 3.92 and a beta of 4.28.

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.