Summit Trail Advisors LLC Increases Holdings in Permian Resources Co. (NYSE:PR)

Summit Trail Advisors LLC boosted its position in shares of Permian Resources Co. (NYSE:PR) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,430 shares of the company’s stock after purchasing an additional 2,368 shares during the quarter. Summit Trail Advisors LLC’s holdings in Permian Resources were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Yaupon Capital Management LP lifted its position in shares of Permian Resources by 225.0% in the 3rd quarter. Yaupon Capital Management LP now owns 3,748,416 shares of the company’s stock worth $51,016,000 after purchasing an additional 2,595,137 shares during the period. Point72 Asset Management L.P. lifted its holdings in Permian Resources by 58.3% during the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock worth $74,811,000 after buying an additional 2,023,742 shares during the period. Perpetual Ltd bought a new stake in Permian Resources during the 4th quarter valued at $27,104,000. Geode Capital Management LLC increased 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 valued at $148,957,000 after acquiring an additional 1,638,618 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position 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 acquiring an additional 1,543,854 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on PR shares. Morgan Stanley assumed coverage on Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Piper Sandler lifted their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Truist Financial boosted their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Benchmark lowered their target price on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.13.

Permian Resources Stock Down 4.9 %

Shares of PR stock opened at $14.28 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current 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. The firm has a market capitalization of $11.47 billion, a PE ratio of 8.65, a P/E/G ratio of 3.96 and a beta of 4.28. The stock’s 50-day simple moving average is $14.76 and its 200-day simple moving average is $14.49.

Insider Buying and Selling

In related 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 transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.80% of the stock is owned by corporate insiders.

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.