Thrivent Financial for Lutherans Trims Stock Position in Permian Resources Corporation $PR

Thrivent Financial for Lutherans lowered its stake in Permian Resources Corporation (NYSE:PR) by 18.6% during the third 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 quarter. Thrivent Financial for Lutherans’ holdings in Permian Resources were worth $2,950,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of Permian Resources by 86.8% in the second quarter. Bank of New York Mellon Corp now owns 23,963,307 shares of the company’s stock valued at $326,380,000 after acquiring an additional 11,133,354 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Permian Resources by 8.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 18,453,672 shares of the company’s stock worth $236,207,000 after acquiring an additional 1,421,059 shares during the period. American Century Companies Inc. raised its stake in shares of Permian Resources by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 11,043,274 shares of the company’s stock valued at $150,409,000 after acquiring an additional 1,863,632 shares during the period. Boston Partners purchased a new stake in Permian Resources during the 2nd quarter worth approximately $134,119,000. Finally, Raymond James Financial Inc. raised its position in Permian Resources by 1.0% in the 2nd quarter. Raymond James Financial Inc. now owns 7,732,423 shares of the company’s stock valued at $105,316,000 after purchasing an additional 75,832 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PR shares. TD Cowen upgraded shares of Permian Resources to a “strong-buy” rating in a research note on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Permian Resources in a report on Monday, December 29th. Wall Street Zen raised Permian Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. The Goldman Sachs Group raised their price target on Permian Resources from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, Mizuho upped their price objective on shares of Permian Resources from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.71.

Insider Transactions at Permian Resources

In other Permian Resources news, CEO William M. Hickey III sold 467,725 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $13.63, for a total transaction of $6,375,091.75. Following the completion of the transaction, the chief executive officer directly owned 1,010,136 shares of the company’s stock, valued at $13,768,153.68. This trade represents a 31.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Guy M. Oliphint sold 172,904 shares of Permian Resources stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 616,683 shares of the company’s stock, valued at approximately $8,405,389.29. The trade was a 21.90% 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 ninety days. 12.80% of the stock is currently owned by corporate insiders.

Permian Resources Price Performance

PR stock opened at $17.14 on Tuesday. The firm has a market cap of $14.21 billion, a P/E ratio of 15.72 and a beta of 0.76. Permian Resources Corporation has a 1 year low of $10.01 and a 1 year high of $17.29. The stock has a 50-day simple moving average of $14.67 and a 200-day simple moving average of $13.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.67 and a current ratio of 0.67.

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.