280,405 Shares in Permian Resources Corporation $PR Bought by Amundi

Amundi purchased a new position in Permian Resources Corporation (NYSE:PR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 280,405 shares of the company's stock, valued at approximately $5,978,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Permian Resources by 4.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,934 shares of the company's stock worth $224,000 after acquiring an additional 607 shares in the last quarter. Bessemer Group Inc. increased its stake in Permian Resources by 21.3% during the 1st quarter. Bessemer Group Inc. now owns 3,537 shares of the company's stock valued at $76,000 after purchasing an additional 621 shares in the last quarter. Waterloo Capital L.P. increased its stake in Permian Resources by 3.1% during the 4th quarter. Waterloo Capital L.P. now owns 21,773 shares of the company's stock valued at $305,000 after purchasing an additional 657 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Permian Resources by 5.4% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,668 shares of the company's stock valued at $192,000 after purchasing an additional 706 shares in the last quarter. Finally, Dean Investment Associates LLC raised its holdings in Permian Resources by 0.3% during the fourth quarter. Dean Investment Associates LLC now owns 265,615 shares of the company's stock worth $3,727,000 after buying an additional 922 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Permian Resources

In related news, EVP Guy M. Oliphint sold 62,769 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $20.44, for a total value of $1,282,998.36. Following the sale, the executive vice president directly owned 542,503 shares in the company, valued at approximately $11,088,761.32. The trade was a 10.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.00% of the company's stock.

Permian Resources Price Performance

Shares of NYSE:PR opened at $19.83 on Thursday. The company has a market capitalization of $16.60 billion, a P/E ratio of 23.05 and a beta of 0.48. The company's 50-day moving average is $19.53 and its 200 day moving average is $19.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. Permian Resources Corporation has a fifty-two week low of $11.92 and a fifty-two week high of $22.67.

Permian Resources (NYSE:PR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. Permian Resources had a net margin of 12.79% and a return on equity of 10.53%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company's revenue for the quarter was up 55.1% on a year-over-year basis. On average, equities research analysts forecast that Permian Resources Corporation will post 1.94 earnings per share for the current year.

Wall Street Analyst Weigh In

PR has been the topic of several recent research reports. Raymond James Financial dropped their price target on shares of Permian Resources from $29.00 to $26.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, June 17th. Evercore began coverage on Permian Resources in a report on Tuesday, June 23rd. They issued an "outperform" rating and a $25.00 target price on the stock. Citigroup decreased their price target on Permian Resources from $26.00 to $24.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. Roth Capital set a $23.00 price objective on Permian Resources and gave the company a "buy" rating in a research note on Monday, June 22nd. Finally, Truist Financial reduced their target price on shares of Permian Resources from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $23.29.

Permian Resources Company Profile

Permian Resources NYSE: PR is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.

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