Leeward Investments LLC MA Has $29.83 Million Position in Permian Resources Co. (NYSE:PR)

Leeward Investments LLC MA decreased its stake in shares of Permian Resources Co. (NYSE:PR) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,074,135 shares of the company’s stock after selling 76,480 shares during the quarter. Permian Resources comprises 1.5% of Leeward Investments LLC MA’s investment portfolio, making the stock its 8th biggest position. Leeward Investments LLC MA’s holdings in Permian Resources were worth $29,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC raised its stake in Permian Resources by 74.2% in the 3rd quarter. CWM LLC now owns 8,682 shares of the company’s stock worth $118,000 after purchasing an additional 3,698 shares in the last quarter. Blue Trust Inc. raised its stake in Permian Resources by 399.5% in the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 2,629 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Permian Resources in the 3rd quarter worth about $343,000. Louisiana State Employees Retirement System raised its stake in Permian Resources by 21.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 175,900 shares of the company’s stock worth $2,394,000 after purchasing an additional 30,600 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in Permian Resources in the 3rd quarter worth about $202,000. Institutional investors own 91.84% of the company’s stock.

Insider Activity at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the sale, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at $2,059,640.10. The trade was a 6.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.80% of the stock is currently owned by insiders.

Permian Resources Trading Down 4.1 %

Shares of Permian Resources stock opened at $14.03 on Friday. The firm has a market capitalization of $11.27 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 4.05 and a beta of 4.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $14.68 and its 200 day moving average is $14.48. Permian Resources Co. has a 1 year low of $12.62 and a 1 year high of $18.28.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial boosted their target price on shares of Permian Resources from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Morgan Stanley started coverage on shares of Permian Resources in a research report on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price for the company. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.13.

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.