Permian Resources Co. (NYSE:PR) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System increased its stake in shares of Permian Resources Co. (NYSE:PR) by 36.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,905 shares of the company’s stock after purchasing an additional 72,726 shares during the quarter. New York State Teachers Retirement System’s holdings in Permian Resources were worth $3,881,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Yaupon Capital Management LP boosted its position in shares of Permian Resources by 225.0% in the 3rd quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock valued at $51,016,000 after purchasing an additional 2,595,137 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Permian Resources by 58.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after purchasing an additional 2,023,742 shares during the period. Perpetual Ltd acquired a new stake in shares of Permian Resources in the 4th quarter valued at about $27,104,000. Geode Capital Management LLC boosted its position in shares of Permian Resources by 17.6% in the 3rd quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock valued at $148,957,000 after purchasing an additional 1,638,618 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Permian Resources by 9.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock valued at $247,042,000 after purchasing an additional 1,543,854 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

Permian Resources Stock Performance

PR opened at $14.62 on Friday. The company has a market capitalization of $11.75 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 3.96 and a beta of 4.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a 1-year low of $12.62 and a 1-year high of $18.28. The business has a 50 day moving average price of $14.70 and a two-hundred day moving average price of $14.47.

Analyst Upgrades and Downgrades

Several research firms have commented on PR. Piper Sandler upped their price objective 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 price objective on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Morgan Stanley began coverage on Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 price objective for the company. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.13.

Insider Activity

In other news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 12.80% of the company’s stock.

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.