Choreo LLC Takes Position in Permian Resources Co. (NYSE:PR)

Choreo LLC purchased a new stake in Permian Resources Co. (NYSE:PR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 24,652 shares of the company’s stock, valued at approximately $350,000.

Other large investors have also modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in shares of Permian Resources in the 4th quarter valued at $31,000. Sunbelt Securities Inc. raised its holdings in shares of Permian Resources by 33.4% in the 3rd 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 period. Blue Trust Inc. raised its holdings in shares of Permian Resources by 399.5% in the 3rd 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 period. National Bank of Canada FI purchased a new stake in shares of Permian Resources in the 3rd quarter valued at $45,000. Finally, Hilltop National Bank purchased a new stake in shares of Permian Resources in the 4th quarter valued at $58,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Activity at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was 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. This represents a 6.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.80% of the company’s stock.

Permian Resources Trading Down 0.3 %

NYSE:PR opened at $14.22 on Friday. The stock has a 50-day simple moving average of $14.74 and a 200-day simple moving average of $14.49. The stock has a market cap of $11.43 billion, a P/E ratio of 8.62, a P/E/G ratio of 3.96 and a beta of 4.28. Permian Resources Co. has a 1 year low of $12.62 and a 1 year high of $18.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Morgan Stanley started 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, Truist Financial upped their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.