Permian Resources Corp (PR)

Shares of Permian Resources Corporation (PR) dropped by 6.25% from $13.44 to $12.60 in the trading on Wednesday October 4, 2023. The PR stock is down due to the stock downgrade rating. On October 4, Keybanc downgraded PR stock from an Overweight rating to Neutral. This decision was based on concerns regarding a potential decrease in travel demand following the post-pandemic surge. This downgrade likely played a role in the sell-off of PR stock, as it made investors more cautious about the company's future prospects.