ETFs Are Net Sellers of Permian Resources (PR) on Wednesday

This article first appeared on GuruFocus.

After four straight days of net ETF buying, Permian Resources (PR) turned to net selling in Wednesday’s session. The stock saw $22.0 million in net ETF selling on Oct. 14, according to ETF flows data. While 21 ETFs were buyers, 8 were sellers, meaning more funds traded the other way but in smaller amounts. The prior streak included net buying of $4.5 million on Oct. 13, $3.3 million on Oct. 12, $4.0 million on Oct. 9 and $5.7 million on Oct. 8.

Track the latest ETF buying and selling trends and search funds in the GuruFocus ETF Screener.

For the full record of ETF and guru buying and selling in PR, see the PR guru trades page.

Which ETFs sold PR on Wednesday?

The largest sellers by dollar value were DFAT ($21.2 million), XOP ($2.4 million) and IJJ ($0.1 million). In all, 21 ETFs added shares and 8 cut them.

Among the ETFs behind the move, DFAT reduced its stake by 879,131 shares, a change of -13.83% worth $21.2 million, leaving it with 5,475,526 shares. XOP cut 98,208 shares, a -2.01% change valued at $2.4 million, and now holds 4,798,131 shares. IJJ trimmed 3,563 shares, a -0.08% change worth $0.1 million, with 4,282,449 shares remaining. Permian Resources operates in the Energy sector and the Oil & Gas E&P industry, with a market cap of $19.8 billion.

Have ETFs been buying or selling PR lately?

Over the last 5 reported days, ETFs were net buyers on 4 and net sellers on 1, so the recent trend is mostly buying.

What does PR do?

Permian Resources Corp is an independent oil and natural gas company focused on the acquisition, optimization, and development of oil and liquids-rich natural gas assets. Its operations are concentrated in the core of the Permian Basin, with large, contiguous acreage positions in West Texas and southeastern New Mexico, primarily across the Delaware and Midland basins.

Permian Resources reported trailing-12-month revenue of $5.74 billion, up 5.4% year over year. Its gross margin was 39.2% and net margin 21.5%. The stock trades at a P/E of 15.67, P/B of 1.65 and P/S of 3.28, with a market cap of $19.8 billion. Its GF Score is 61, and GF Value of $14.66 compares with a price of $23.61. The dividend yield is 2.71%, and the year-to-date return is 72.27%.