L. Roy Papp & Associates LLP Raises Stock Holdings in Permian Resources Co. (NYSE:PR)

L. Roy Papp & Associates LLP grew its stake in shares of Permian Resources Co. (NYSE:PR) by 55.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,540 shares of the company’s stock after buying an additional 20,185 shares during the period. L. Roy Papp & Associates LLP’s holdings in Permian Resources were worth $813,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PR. Sanctuary Advisors LLC purchased a new position in Permian Resources during the second quarter valued at approximately $607,000. Park Avenue Securities LLC lifted its stake in shares of Permian Resources by 31.5% during the 3rd quarter. Park Avenue Securities LLC now owns 13,818 shares of the company’s stock valued at $188,000 after buying an additional 3,307 shares in the last quarter. CWM LLC lifted its stake in shares of Permian Resources by 74.2% during the 3rd quarter. CWM LLC now owns 8,682 shares of the company’s stock valued at $118,000 after buying an additional 3,698 shares in the last quarter. UMB Bank n.a. boosted its holdings in Permian Resources by 99.2% in the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after buying an additional 1,390 shares during the period. Finally, NBC Securities Inc. increased its stake in Permian Resources by 14.3% in the 3rd quarter. NBC Securities Inc. now owns 53,037 shares of the company’s stock worth $721,000 after buying an additional 6,631 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Benchmark lowered their price objective on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Truist Financial upped their price target on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Piper Sandler increased their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Morgan Stanley started coverage on shares of Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Insider Transactions at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s 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 sale, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.80% of the company’s stock.

Permian Resources Trading Up 0.3 %

Shares of NYSE PR opened at $15.02 on Wednesday. Permian Resources Co. has a 1-year low of $12.62 and a 1-year high of $18.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. The business’s 50 day moving average is $14.78 and its two-hundred day moving average is $14.50. The stock has a market capitalization of $12.07 billion, a P/E ratio of 9.10, a PEG ratio of 3.96 and a beta of 4.28.

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.