Thrivent Financial for Lutherans Decreases Position in Permian Resources Corporation $PR

Thrivent Financial for Lutherans lessened its stake in shares of Permian Resources Corporation (NYSE:PR) by 18.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 230,483 shares of the company’s stock after selling 52,819 shares during the period. Thrivent Financial for Lutherans’ holdings in Permian Resources were worth $2,950,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Chilton Capital Management LLC raised its holdings in shares of Permian Resources by 3.5% in the third quarter. Chilton Capital Management LLC now owns 23,668 shares of the company’s stock worth $303,000 after buying an additional 800 shares during the period. SCS Capital Management LLC raised its position in Permian Resources by 0.6% during the 2nd quarter. SCS Capital Management LLC now owns 141,205 shares of the company’s stock valued at $1,923,000 after purchasing an additional 870 shares in the last quarter. Inscription Capital LLC lifted its stake in Permian Resources by 3.5% in the third quarter. Inscription Capital LLC now owns 28,219 shares of the company’s stock worth $361,000 after acquiring an additional 948 shares during the period. ProShare Advisors LLC grew its holdings in Permian Resources by 3.8% during the 2nd quarter. ProShare Advisors LLC now owns 28,278 shares of the company’s stock worth $385,000 after acquiring an additional 1,025 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Permian Resources by 114.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,965 shares of the company’s stock valued at $25,000 after purchasing an additional 1,047 shares during the period. 91.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America reaffirmed a “neutral” rating and set a $16.00 target price (down previously from $17.00) on shares of Permian Resources in a research report on Friday, January 16th. UBS Group lifted their target price on shares of Permian Resources from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Wells Fargo & Company lifted their price target on shares of Permian Resources from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, January 27th. Benchmark reaffirmed a “buy” rating on shares of Permian Resources in a research note on Monday, February 2nd. Finally, Morgan Stanley reduced their target price on shares of Permian Resources from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.71.

Permian Resources Stock Up 1.2%

Shares of Permian Resources stock opened at $17.14 on Tuesday. The stock has a market capitalization of $14.21 billion, a price-to-earnings ratio of 15.72 and a beta of 0.76. Permian Resources Corporation has a 52-week low of $10.01 and a 52-week high of $17.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50 day moving average price is $14.67 and its 200-day moving average price is $13.83.

Insiders Place Their Bets

In other news, EVP Guy M. Oliphint sold 172,904 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $2,356,681.52. Following the sale, the executive vice president directly owned 616,683 shares of the company’s stock, valued at approximately $8,405,389.29. This represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James H. Walter sold 467,700 shares of Permian Resources stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $13.63, for a total value of $6,374,751.00. Following the completion of the sale, the chief executive officer directly owned 1,010,138 shares of the company’s stock, valued at approximately $13,768,180.94. The trade was a 31.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,210,456 shares of company stock valued at $30,231,728. Insiders own 12.80% of the company’s stock.

Permian Resources Profile

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.