Choreo LLC Makes New $350,000 Investment in Permian Resources Co. (NYSE:PR)

Choreo LLC purchased a new position in shares of Permian Resources Co. (NYSE:PR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,652 shares of the company’s stock, valued at approximately $350,000.

Several other hedge funds also recently bought and sold shares of PR. Wright Investors Service Inc. acquired a new stake in shares of Permian Resources during the fourth quarter worth $498,000. Point72 Asset Management L.P. boosted its holdings in shares of 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 purchasing an additional 2,023,742 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in shares of Permian Resources by 8,360.8% during the third quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock worth $699,000 after purchasing an additional 50,750 shares during the last quarter. South Street Advisors LLC acquired a new stake in shares of Permian Resources during the third quarter worth $7,142,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Permian Resources during the third quarter worth $556,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Down 0.3 %

Shares of NYSE PR opened at $14.22 on Friday. Permian Resources Co. has a 1 year low of $12.62 and a 1 year high of $18.28. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 3.96 and a beta of 4.28. 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 stock’s 50-day simple moving average is $14.74 and its 200-day simple moving average is $14.49.

Analyst Ratings Changes

Several research firms have recently issued reports on PR. Truist Financial raised their price objective on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Morgan Stanley started coverage on Permian Resources in a report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price on the stock. Finally, Piper Sandler lifted their target price on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Two equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Insider Activity at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was 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 directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.80% of the stock is owned by corporate insiders.

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.