Permian Resources Co. (NYSE:PR) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lessened its holdings in Permian Resources Co. (NYSE:PR) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,730,576 shares of the company’s stock after selling 209,409 shares during the quarter. TimesSquare Capital Management LLC owned about 0.46% of Permian Resources worth $53,646,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PR. CWM LLC increased its holdings in Permian Resources by 74.2% in the 3rd quarter. CWM LLC now owns 8,682 shares of the company’s stock worth $118,000 after buying an additional 3,698 shares during the period. Bleakley Financial Group LLC increased its holdings in Permian Resources by 13.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 14,934 shares of the company’s stock worth $203,000 after buying an additional 1,784 shares during the period. Blue Trust Inc. grew its stake 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 purchasing an additional 2,629 shares during the period. Venture Visionary Partners LLC increased its holdings in shares of Permian Resources by 8.9% during the 3rd quarter. Venture Visionary Partners LLC now owns 124,750 shares of the company’s stock valued at $1,698,000 after purchasing an additional 10,150 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Permian Resources during the 3rd quarter valued at approximately $343,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insiders Place Their Bets

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources 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 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 document filed with the SEC, which is available through this hyperlink. 12.80% of the stock is currently owned by corporate insiders.

Permian Resources Price Performance

Shares of NYSE PR opened at $14.31 on Wednesday. Permian Resources Co. has a one year low of $12.62 and a one year 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. The firm has a fifty day moving average of $14.71 and a 200 day moving average of $14.47. The firm has a market cap of $11.50 billion, a PE ratio of 8.67, a PEG ratio of 3.92 and a beta of 4.28.

Analysts Set New Price Targets

Several research firms have recently weighed in on PR. Piper Sandler lifted their target price 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. Morgan Stanley began coverage on shares of Permian Resources in a report on Friday, January 10th. They set an “overweight” rating and a $19.00 target price for the company. Finally, Truist Financial lifted their target price 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. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Permian Resources presently has an average rating of “Moderate Buy” and a consensus price target of $19.13.

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.