Van ECK Associates Corp Has $22.87 Million Stake in Permian Resources Co. (NYSE:PR)

Van ECK Associates Corp trimmed its holdings in shares of Permian Resources Co. (NYSE:PR) by 16.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,651,159 shares of the company’s stock after selling 314,930 shares during the quarter. Van ECK Associates Corp owned 0.21% of Permian Resources worth $22,869,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Simplicity Wealth LLC boosted its holdings in shares of Permian Resources by 5.2% during the 2nd quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock worth $212,000 after buying an additional 646 shares in the last quarter. GAMMA Investing LLC raised its position in Permian Resources by 19.6% in the second quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock worth $70,000 after acquiring an additional 716 shares during the period. Mount Yale Investment Advisors LLC lifted its stake in Permian Resources by 3.1% in the first quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock valued at $454,000 after purchasing an additional 781 shares during the last quarter. Larson Financial Group LLC grew its holdings in Permian Resources by 0.5% during the second quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock valued at $3,379,000 after purchasing an additional 949 shares during the period. Finally, Chilton Capital Management LLC increased its position in Permian Resources by 4.6% in the first quarter. Chilton Capital Management LLC now owns 22,868 shares of the company’s stock worth $404,000 after buying an additional 1,000 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PR. Wolfe Research assumed coverage on Permian Resources in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Citigroup lowered their price target on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. UBS Group cut their price objective on shares of Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 target price on shares of Permian Resources in a report on Monday, October 14th. Finally, Wells Fargo & Company cut their price target on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.73.

Insider Buying and Selling at Permian Resources

In related news, CAO Robert Regan Shannon sold 4,822 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now directly owns 61,399 shares in the company, valued at approximately $855,288.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the transaction, the chief accounting officer now owns 61,399 shares in the company, valued at $855,288.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,156.53. Following the transaction, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at $1,075,911.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.80% of the company’s stock.

Permian Resources Trading Up 2.4 %

NYSE PR opened at $13.73 on Tuesday. Permian Resources Co. has a 12 month low of $12.34 and a 12 month high of $18.28. The stock’s fifty day moving average price is $13.87 and its 200-day moving average price is $15.13. The stock has a market cap of $11.02 billion, a P/E ratio of 10.98, a P/E/G ratio of 0.82 and a beta of 4.34. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Permian Resources (NYSE:PR) last issued its earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $0.27 EPS. Permian Resources’s revenue was up 99.9% on a year-over-year basis. As a group, equities analysts forecast that Permian Resources Co. will post 1.46 EPS for the current fiscal year.

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.