New Mexico Educational Retirement Board Has $1.87 Million Position in Permian Resources Co. (NYSE:PR)

New Mexico Educational Retirement Board increased its holdings in shares of Permian Resources Co. (NYSE:PR) by 33.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 129,868 shares of the company’s stock after acquiring an additional 32,368 shares during the period. New Mexico Educational Retirement Board’s holdings in Permian Resources were worth $1,868,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. ORG Wealth Partners LLC bought a new position in Permian Resources during the 4th quarter valued at about $31,000. Sunbelt Securities Inc. lifted its holdings in Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after purchasing an additional 800 shares during the last quarter. Blue Trust Inc. lifted its holdings in Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after purchasing an additional 2,629 shares during the last quarter. National Bank of Canada FI bought a new position in Permian Resources during the 3rd quarter valued at about $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Permian Resources during the 3rd quarter valued at about $57,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PR shares. 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 report on Monday, January 13th. Piper Sandler boosted their target price 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. Finally, Morgan Stanley initiated coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price for the company. Two investment 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 company’s stock. Based on data from MarketBeat.com, Permian Resources currently has an average rating of “Moderate Buy” and a consensus price target of $19.13.

Permian Resources Trading Down 0.3 %

PR opened at $14.17 on Monday. The company has a market cap of $11.38 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 3.96 and a beta of 4.28. The firm has a 50 day simple moving average of $14.73 and a 200 day simple moving average of $14.47. 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 fifty-two week low of $12.62 and a fifty-two week high of $18.28.

Insider Activity at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 134,617 shares in the company, valued at approximately $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.