5 Most Shorted Oil Stocks

2. Permian Resources Corporation (NBYSE:PR)

Number of Hedge Fund Holders: N/A
Float Shorted: 23.69%
Stock Price as of November 10: $10.16

Permian Resources Corporation (NBYSE:PR) is a privately held oil and gas business that focuses on developing crude oil and associated liquids-rich natural gas assets in the United States. On November 8, Permian Resources Corporation (NBYSE:PR) posted earnings for the third quarter, reporting earnings per share of $0.70, exceeding market estimates by $0.25. In addition, revenue for the quarter was $549.78 million, up 90.6% from the previous year’s third-quarter revenue.

Following the merger of Centennial Resource Development and Colgate Energy Partners, Citi analyst Paul Diamond initiated coverage of Permian Resources Corporation (NBYSE:PR), assigning the stock a ‘Buy’ rating and a $12 price target on October 26. The successful merger of Colgate Energy Partners III, LLC and Centennial Resource Development, Inc. was announced by Permian Resources Corporation on September 1.

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