Allspring Global Investments Holdings LLC Has $9.36 Million Holdings in Permian Resources Co. (NYSE:PR)

Allspring Global Investments Holdings LLC grew its position in Permian Resources Co. (NYSE:PR) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 629,844 shares of the company’s stock after purchasing an additional 90,686 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of Permian Resources worth $9,359,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in Permian Resources by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 176,600 shares of the company’s stock valued at $2,540,000 after buying an additional 700 shares in the last quarter. L. Roy Papp & Associates LLP increased its position in Permian Resources by 55.5% during the 4th quarter. L. Roy Papp & Associates LLP now owns 56,540 shares of the company’s stock worth $813,000 after purchasing an additional 20,185 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Permian Resources by 12.4% in the 4th quarter. Summit Trail Advisors LLC now owns 21,430 shares of the company’s stock valued at $308,000 after purchasing an additional 2,368 shares during the last quarter. MADDEN SECURITIES Corp grew its stake in shares of Permian Resources by 1.5% during the fourth quarter. MADDEN SECURITIES Corp now owns 68,975 shares of the company’s stock worth $992,000 after buying an additional 1,000 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Permian Resources by 68.7% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 3,636,091 shares of the company’s stock worth $52,288,000 after buying an additional 1,481,360 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Wall Street Analyst Weigh In

PR has been the topic of a number of research reports. Piper Sandler boosted their price objective on Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Morgan Stanley started coverage on shares of Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Finally, Truist Financial lifted their price target on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two equities 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. According to MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and an average target price of $19.13.

Permian Resources Stock Up 1.0 %

PR opened at $14.31 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $14.71 and its 200 day simple moving average is $14.47. Permian Resources Co. has a 52 week low of $12.62 and a 52 week high of $18.28. The stock has a market cap of $11.50 billion, a PE ratio of 8.67, a P/E/G ratio of 3.96 and a beta of 4.28.

Insider Activity

In related news, CFO Guy M. Oliphint sold 8,761 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.80% of the company’s stock.

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.