BI Asset Management Fondsmaeglerselskab A S Sells 125,041 Shares of Permian Resources Corporation $PR

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in shares of Permian Resources Corporation (NYSE:PR) by 27.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 327,364 shares of the company’s stock after selling 125,041 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Permian Resources were worth $4,190,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in shares of Permian Resources by 70.1% during the 2nd quarter. Nordea Investment Management AB now owns 490,311 shares of the company’s stock valued at $6,727,000 after acquiring an additional 202,026 shares during the period. Ruffer LLP purchased a new position in Permian Resources during the third quarter valued at $2,608,000. Massachusetts Financial Services Co. MA grew its holdings in Permian Resources by 8.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 18,453,672 shares of the company’s stock valued at $236,207,000 after purchasing an additional 1,421,059 shares during the period. American Century Companies Inc. grew its holdings in Permian Resources by 20.3% during the second quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock valued at $150,409,000 after purchasing an additional 1,863,632 shares during the period. Finally, Cresset Asset Management LLC increased its position in Permian Resources by 599.2% in the second quarter. Cresset Asset Management LLC now owns 174,508 shares of the company’s stock worth $2,377,000 after buying an additional 149,548 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

Permian Resources Trading Up 3.2%

Permian Resources stock opened at $16.96 on Friday. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $17.04. The firm’s 50 day moving average price is $14.62 and its 200-day moving average price is $13.80. 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 stock has a market cap of $14.06 billion, a P/E ratio of 15.56 and a beta of 0.77.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, November 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Permian Resources had a return on equity of 11.03% and a net margin of 15.65%.Permian Resources’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. On average, equities analysts predict that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PR shares. Bank of America reaffirmed a “neutral” rating and set a $16.00 price objective (down from $17.00) on shares of Permian Resources in a research report on Friday, January 16th. Piper Sandler decreased their target price on shares of Permian Resources from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. UBS Group lifted their price target on shares of Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, December 12th. Susquehanna reduced their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “positive” rating for the company in a research note on Monday, January 26th. Finally, Weiss Ratings restated 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.71.

Insider Buying and Selling at Permian Resources

In related news, EVP Guy M. Oliphint sold 172,904 shares of the business’s stock in a transaction dated 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 directly owned 616,683 shares in the company, valued at approximately $8,405,389.29. The trade was a 21.90% 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. Also, EVP John Charles Bell sold 106,399 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total value 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. The trade was a 22.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,210,456 shares of company stock worth $30,231,728. Insiders own 6.44% of the company’s stock.

Permian Resources 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.