Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Permian Resources Corp shares valued at $3,199,875 were purchased by Quinn William J on Sep 10 ’24. At $12.80 per share, Quinn William J acquired 250,000 shares. The insider’s holdings grew to 250,000 shares worth approximately $3.46 million following the completion of this transaction.
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Also, Quinn William J purchased 62,429 shares, netting a total of over 794,946 in proceeds. Following the buying of shares at $12.73 each, the insider now holds 312,429 shares.
Before that, Shannon Robert Regan had sold 4,822 shares from its account. In a trade valued at $67,179, the EVP, Chief Accounting Officer traded Permian Resources Corp shares for $13.93 each. Upon closing the transaction, the insider’s holdings decreased to 4,822 shares, worth approximately $0.85 million.
As published in their initiating research note from Goldman on September 30, 2024, Permian Resources Corp [PR] has been a Buy and the price target has been revised to $19. Analysts at Wolfe Research started covering the stock with ‘”a Peer perform”‘ outlook in a report released in mid July. As of July 03, 2024, BMO Capital Markets has increased its “Market perform” rating to a “an Outperform” for PR.
Analyzing PR Stock Performance
During the last five days, there has been a drop of approximately -0.93%. Over the course of the year, Permian Resources Corp shares have jumped approximately 4.41%. Shares of the company reached a 52-week high of $18.28 on 04/12/24 and a 52-week low of $12.59 on 02/05/24. A 50-day SMA is recorded $14.01, while a 200-day SMA reached $15.26. Nevertheless, trading volume fell to 9.3 million shares from 6.38 million shares the previous day.
Support And Resistance Levels for Permian Resources Corp (PR)
According to the 24-hour chart, there is a support level at 13.72, which, if violated, would cause prices to drop to 13.60. In the upper region, resistance lies at 13.97. The next price resistance is at 14.09. RSI (Relative Strength Index) is 46.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.31, which suggests the price will decrease in the coming days. Percent R is at 80.00%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
