MADDEN SECURITIES Corp Grows Holdings in Permian Resources Co. (NYSE:PR)

MADDEN SECURITIES Corp raised its stake in Permian Resources Co. (NYSE:PR) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,975 shares of the company’s stock after buying an additional 1,000 shares during the period. MADDEN SECURITIES Corp’s holdings in Permian Resources were worth $992,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp increased its stake in Permian Resources by 6.1% in the third quarter. State Street Corp now owns 22,027,153 shares of the company’s stock valued at $299,790,000 after acquiring an additional 1,263,460 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $247,042,000 after purchasing an additional 1,543,854 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $148,957,000 after purchasing an additional 1,638,618 shares in the last quarter. Jennison Associates LLC increased its position in shares of Permian Resources by 19.8% during the 4th quarter. Jennison Associates LLC now owns 9,159,252 shares of the company’s stock valued at $131,710,000 after purchasing an additional 1,511,923 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Permian Resources by 58.3% during 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 buying an additional 2,023,742 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

PR has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research note on Monday, October 14th. Morgan Stanley assumed coverage on shares of Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 target price on the stock. Piper Sandler boosted their price target on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial upped their price target 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. Finally, Benchmark decreased their price objective on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Permian Resources presently has an average rating of “Moderate Buy” and a consensus target price of $19.13.

Permian Resources Stock Up 4.2 %

PR stock opened at $14.98 on Tuesday. The business’s 50-day moving average is $14.79 and its two-hundred day moving average is $14.50. The company has a market cap of $12.03 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 3.96 and a beta of 4.28. Permian Resources Co. has a fifty-two week low of $12.62 and a fifty-two week 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.

Insider Transactions at Permian Resources

In other news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company 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.