New York State Teachers Retirement System Buys 72,726 Shares of Permian Resources Co. (NYSE:PR)

New York State Teachers Retirement System lifted its stake in Permian Resources Co. (NYSE:PR) by 36.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 269,905 shares of the company’s stock after acquiring an additional 72,726 shares during the period. New York State Teachers Retirement System’s holdings in Permian Resources were worth $3,881,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PR. Yaupon Capital Management LP lifted its stake in Permian Resources by 225.0% during the third 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. increased its holdings in shares of Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after purchasing an additional 2,023,742 shares in the last quarter. Perpetual Ltd acquired a new stake in shares of Permian Resources in the fourth quarter valued at approximately $27,104,000. Geode Capital Management LLC increased its holdings in shares of Permian Resources by 17.6% in the third quarter. Geode Capital Management LLC now owns 10,941,937 shares of the company’s stock valued at $148,957,000 after purchasing an additional 1,638,618 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Permian Resources by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,151,477 shares of the company’s stock valued at $247,042,000 after purchasing an additional 1,543,854 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Insider Transactions at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler raised their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Morgan Stanley initiated coverage on shares of Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 price objective on the stock. Finally, Truist Financial boosted their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $19.13.

Permian Resources Trading Up 0.0 %

Shares of NYSE PR opened at $14.62 on Friday. 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 52-week low of $12.62 and a 52-week high of $18.28. The firm has a 50 day moving average price of $14.70 and a two-hundred day moving average price of $14.47. The stock has a market cap of $11.75 billion, a P/E ratio of 8.86, a price-to-earnings-growth ratio of 3.96 and a beta of 4.28.

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.