We recently published a list of Insiders Are Spending Big: 15 Stocks Leading in March. In this article, we are going to take a look at where Permian Resources Corporation (NYSE:PR) stands against other stocks that are receiving the most insider investment in March.
“The economy is strong overall and has made significant progress toward our goals over the past two years,” Federal Reserve Chair Jerome Powell said during a press conference Wednesday following the decision announcement. “Labor market conditions are solid, and inflation has moved closer to our 2% longer-run goal, though it remains somewhat elevated.”
The Fed announced on Wednesday that it would maintain the federal funds rate at its current range of 4.25% to 4.5%. It is also keeping its outlook at two rate cuts for the remainder of this year, writes CNBC.
However, the Fed also announced that “uncertainty around the economic outlook has increased.”
Following the announcement, the broader market index rose 1.08%, blue-chip companies gained 0.92% and the NASDAQ Composite jumped 1.41%.
Despite political and economic uncertainty, some analysts remain bullish on AI’s growth. Insider trading draws attention in such times, as executives have unique company insights. For example, when a CEO or CFO buys stock, it may suggest confidence in the company’s future.
However, insider selling doesn’t always signal a lack of faith—it may be due to personal financial needs or asset diversification. Executives often use pre-set plans, like 10b5-1, to ensure transparency and avoid any perception of misconduct.
While insider trading can offer hints, it should be viewed alongside other factors like financial health, market trends, and industry shifts.
Our Methodology
Using Insider Monkey’s insider trading screener, we identified stocks with the highest insider purchase values in March.
Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
For each stock, we provide details on the total value of insider purchases this month and the company’s current market capitalization.
A close-up of a wellhead, showing off the company’s production of oil and natural gas.
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.
Overall, PR ranks 13th on our list of stocks that are receiving the most insider investment in March. While we acknowledge the potential of PR, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
