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

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Wealth Partners LLC acquired a new position in shares of Permian Resources during the 4th quarter worth approximately $31,000. Sunbelt Securities Inc. increased its holdings in shares of Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock worth $43,000 after acquiring an additional 800 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after acquiring an additional 2,629 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Permian Resources during the 3rd quarter worth approximately $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Permian Resources during the 3rd quarter worth approximately $57,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PR shares. Piper Sandler boosted their price target on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial upped their target price on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Morgan Stanley started coverage on Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.13.

Insider Activity at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction on 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 trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.80% of the stock is currently owned by company insiders.

Permian Resources Stock Up 1.0 %

PR stock 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 firm has a market capitalization of $11.50 billion, a PE ratio of 8.67, a P/E/G ratio of 3.96 and a beta of 4.28. The stock’s 50 day moving average is $14.71 and its 200-day moving average is $14.47. Permian Resources Co. has a twelve month low of $12.62 and a twelve month high of $18.28.

About Permian Resources

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.