Insiders Are Spending Big: 15 Stocks Leading in March

13. Permian Resources Corporation (NYSE:PR)

Total Value of Insider Purchases In March: $12.65 million

Market Capitalization: $11.32 billion

Permian Resources is an independent oil and natural gas company that develops crude oil and liquids-rich natural gas reserves in the United States. Its primary focus is on acreage in the Delaware Basin across Reeves County, Texas, and Lea County, New Mexico. It is one of the 11 stocks that will go to the moon according to Reddit.

For the full year 2024, Permian Resources reported oil and gas sales of $5 billion, compared to oil and gas sales of $3.12 billion in 2023. Operating expenses were $685.17 million, up from $373.77 million in the previous year. Net income amounted to $1.25 billion, up from $879.7 million in 2023.

In March, one insider bought a total of $12.65 million worth of Permian Resources shares at an average price of $12.50 per share. Currently, the stock trades at $14.06, having declined 2.23% year-to-date, and 17.54% over the past 12 months.

Based on 18 Wall Street analysts, the average price target on Permian Resources stock is $19.19, representing a 36.39% increase from the latest price. According to TipRanks, the stock also holds a “Strong Buy” rating.