In a filing, Permian Resources Corp revealed its Director Tepper Jeffrey unloaded Company’s shares for reported $1.07 million on May 15 ’24. In the deal valued at $16.42 per share,65,000 shares were sold. As a result of this transaction, Tepper Jeffrey now holds 158,665 shares worth roughly $2.26 million.
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Then, EnCap Partners GP, LLC sold 10,000,000 shares, generating $164,200,000 in total proceeds. Upon selling the shares at $16.42, the 10% Owner now owns 21,532,613 shares.
Before that, Quinn William J sold 22,500,000 shares. Permian Resources Corp shares valued at $370,575,000 were divested by the Director at a price of $16.47 per share. As a result of the transaction, Quinn William J now holds 0 shares, worth roughly $0.0.
Wolfe Research initiated its Permian Resources Corp [PR] rating to a Peer perform in a research note published recently. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who increased its forecast for the stock in early July from “a Market perform” to “an Outperform”. Raymond James started covering the stock on April 09, 2024. It rated PR as “a Strong buy”.
Price Performance Review of PR
On Friday, Permian Resources Corp [NYSE:PR] saw its stock fall -1.52% to $14.24. Over the last five days, the stock has lost -2.06%. Permian Resources Corp shares have risen nearly 7.35% since the year began. Nevertheless, the stocks have risen 4.86% over the past one year. While a 52-week high of $17.94 was reached on 04/12/24, a 52-week low of $11.97 was recorded on 02/05/24. SMA at 50 days reached $15.27, while 200 days put it at $15.15.
Levels Of Support And Resistance For PR Stock
The 24-hour chart illustrates a support level at 14.07, which if violated will result in even more drops to 13.91. On the upside, there is a resistance level at 14.35. A further resistance level may holdings at 14.47. The Relative Strength Index (RSI) on the 14-day chart is 43.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.20, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.79%. Stochastics %K at 23.89% indicates the stock is a holding.
How much short interest is there in Permian Resources Corp?
A steep rise in short interest was recorded in Permian Resources Corp stocks on 2024-08-15, dropping by -2.51 million shares to a total of 29.8 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 32.31 million shares. There was a decline of -8.42%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on January 05, 2024 when BofA Securities began covering the stock and recommended ‘”a Neutral”‘ rating along with a $15 price target.
