Permian Resources Corporation $PR Shares Sold by Ranger Investment Management L.P.

Ranger Investment Management L.P. trimmed its holdings in shares of Permian Resources Corporation (NYSE:PR) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,417,015 shares of the company’s stock after selling 40,600 shares during the period. Ranger Investment Management L.P.’s holdings in Permian Resources were worth $18,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harmony Asset Management LLC lifted its holdings in Permian Resources by 17.7% in the third quarter. Harmony Asset Management LLC now owns 13,879 shares of the company’s stock worth $178,000 after purchasing an additional 2,084 shares during the period. Savant Capital LLC acquired a new stake in shares of Permian Resources in the 3rd quarter worth approximately $166,000. Hantz Financial Services Inc. boosted its holdings in shares of Permian Resources by 40.4% in the third quarter. Hantz Financial Services Inc. now owns 16,760 shares of the company’s stock valued at $215,000 after acquiring an additional 4,821 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Permian Resources by 5.5% during the third quarter. Ashton Thomas Private Wealth LLC now owns 24,440 shares of the company’s stock valued at $313,000 after acquiring an additional 1,281 shares during the period. Finally, AGF Management Ltd. acquired a new position in shares of Permian Resources during the third quarter valued at approximately $2,430,000. 91.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PR shares. UBS Group upped their target price on Permian Resources from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. The Goldman Sachs Group raised their target price on Permian Resources from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Royal Bank Of Canada boosted their price target on shares of Permian Resources from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Zacks Research lowered shares of Permian Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Finally, Mizuho lifted their price objective on shares of Permian Resources from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.71.

Permian Resources Trading Up 0.6%

Shares of NYSE PR opened at $16.52 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.31. Permian Resources Corporation has a 12 month low of $10.01 and a 12 month high of $16.73. The company has a market cap of $13.70 billion, a price-to-earnings ratio of 15.23 and a beta of 0.77. The business has a fifty day simple moving average of $14.57 and a 200-day simple moving average of $13.78.

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

Insiders Place Their Bets

In other news, EVP Guy M. Oliphint sold 172,904 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $2,356,681.52. Following the sale, the executive vice president owned 616,683 shares in the company, valued at $8,405,389.29. The trade was a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Regan Shannon sold 106,405 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $1,450,300.15. Following the completion of the sale, the executive vice president owned 360,667 shares of the company’s stock, valued at approximately $4,915,891.21. This trade represents a 22.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,210,456 shares of company stock valued at $30,231,728 over the last 90 days. 6.44% of the stock is owned by corporate insiders.

About Permian Resources

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.