Empowered Funds LLC Has $10.29 Million Stock Position in Permian Resources Co. (NYSE:PR)

Empowered Funds LLC lifted its position in Permian Resources Co. (NYSE:PR) by 266.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 715,739 shares of the company’s stock after acquiring an additional 520,595 shares during the period. Empowered Funds LLC owned about 0.09% of Permian Resources worth $10,292,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PR. Sanctuary Advisors LLC purchased a new position in Permian Resources during the 2nd quarter worth approximately $607,000. Park Avenue Securities LLC grew its holdings in shares of Permian Resources by 31.5% during the third quarter. Park Avenue Securities LLC now owns 13,818 shares of the company’s stock valued at $188,000 after buying an additional 3,307 shares in the last quarter. CWM LLC raised its position in Permian Resources by 74.2% during the third quarter. CWM LLC now owns 8,682 shares of the company’s stock valued at $118,000 after buying an additional 3,698 shares during the period. Wedmont Private Capital purchased a new stake in Permian Resources in the 3rd quarter worth about $218,000. Finally, UMB Bank n.a. boosted its position in Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after acquiring an additional 1,390 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

Insider Activity at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the sale, the chief financial officer now owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.80% of the stock is currently owned by company insiders.

Permian Resources Trading Up 0.5 %

Shares of PR stock opened at $14.38 on Monday. The business’s 50 day moving average is $14.79 and its two-hundred day moving average is $14.50. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 12 month low of $12.62 and a 12 month high of $18.28. The company has a market cap of $11.55 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 3.96 and a beta of 4.28.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PR. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a report on Monday, October 14th. Piper Sandler increased their target price 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. Benchmark decreased 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. Morgan Stanley started coverage on shares of Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 price target on the stock. Finally, Truist Financial lifted their price objective on Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Permian Resources presently has a consensus rating of “Moderate Buy” and an average target price of $19.13.

Permian Resources 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.