MADDEN SECURITIES Corp Buys 1,000 Shares of Permian Resources Co. (NYSE:PR)

MADDEN SECURITIES Corp lifted its stake in shares of Permian Resources Co. (NYSE:PR) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,975 shares of the company’s stock after buying an additional 1,000 shares during the period. MADDEN SECURITIES Corp’s holdings in Permian Resources were worth $992,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PR. Sunbelt Securities Inc. increased its position in Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after acquiring an additional 800 shares during the period. Blue Trust Inc. increased its holdings in Permian Resources by 28.6% in the fourth quarter. Blue Trust Inc. now owns 4,226 shares of the company’s stock valued at $58,000 after purchasing an additional 939 shares during the period. Avior Wealth Management LLC raised its position in Permian Resources by 0.9% during the 3rd quarter. Avior Wealth Management LLC now owns 114,601 shares of the company’s stock worth $1,560,000 after purchasing an additional 1,007 shares during the last quarter. Icon Wealth Advisors LLC lifted its holdings in Permian Resources by 1.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 130,880 shares of the company’s stock worth $1,781,000 after buying an additional 1,349 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in Permian Resources by 0.7% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 184,475 shares of the company’s stock worth $2,511,000 after buying an additional 1,370 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Guy M. Oliphint sold 8,761 shares of Permian Resources stock in a transaction 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 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 the SEC website. 12.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages 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 research report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a report on Monday, October 14th. Benchmark reduced their price objective on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley assumed coverage on shares of Permian Resources in a research note on Friday, January 10th. They set an “overweight” rating and a $19.00 target price for the company. Finally, Piper Sandler upped their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.13.

Permian Resources Stock Up 4.2 %

PR stock opened at $14.98 on Tuesday. Permian Resources Co. has a twelve month low of $12.62 and a twelve month high of $18.28. The firm has a market capitalization of $12.03 billion, a PE ratio of 9.08, a PEG ratio of 3.96 and a beta of 4.28. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. The stock has a 50-day simple moving average of $14.79 and a two-hundred day simple moving average of $14.50.

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.