Envestnet Asset Management Inc. Lowers Position in Permian Resources Corporation $PR

Envestnet Asset Management Inc. decreased its holdings in shares of Permian Resources Corporation (NYSE:PR) by 9.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 813,375 shares of the company’s stock after selling 84,712 shares during the period. Envestnet Asset Management Inc. owned 0.10% of Permian Resources worth $10,411,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in Permian Resources by 114.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock valued at $25,000 after acquiring an additional 1,047 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Permian Resources by 154.4% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,292 shares of the company’s stock valued at $31,000 after buying an additional 1,391 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Permian Resources in the 2nd quarter worth approximately $36,000. Parkside Financial Bank & Trust raised its stake in shares of Permian Resources by 90.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,852 shares of the company’s stock worth $39,000 after acquiring an additional 1,357 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Permian Resources by 340.8% during the second quarter. EverSource Wealth Advisors LLC now owns 4,170 shares of the company’s stock valued at $57,000 after acquiring an additional 3,224 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Zacks Research lowered shares of Permian Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. The Goldman Sachs Group boosted their target price on Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Wells Fargo & Company boosted their price target on Permian Resources from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 27th. Mizuho upped their price objective on shares of Permian Resources from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Permian Resources in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.71.

Permian Resources Trading Up 4.0%

NYSE PR opened at $17.67 on Thursday. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $17.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $14.65 billion, a PE ratio of 16.21 and a beta of 0.77. The company has a fifty day moving average of $15.01 and a 200 day moving average of $13.98.

Insider Activity at Permian Resources

In other Permian Resources news, EVP Guy M. Oliphint sold 172,904 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $2,356,681.52. Following the sale, the executive vice president owned 616,683 shares in the company, valued at approximately $8,405,389.29. This represents a 21.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Charles Bell sold 106,399 shares of Permian Resources stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $1,450,218.37. Following the transaction, the executive vice president directly owned 376,442 shares of the company’s stock, valued at approximately $5,130,904.46. This trade represents a 22.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,210,456 shares of company stock valued at $30,231,728 in the last 90 days. 6.44% of the stock is currently owned by corporate insiders.

About Permian Resources

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.