Shares of Permian Resources Corp.
PR,
shed 1.4% in premarket trading Tuesday, after the Texas-based oil and gas company announced a public offering of 39.4 million shares by selling stockholders. The offering represents 5.1% of the total shares outstanding. The selling stockholders are affiliates of NGP Energy Capital Management LLC, Riverstone Investment Group LLC and EnCap Investments LP. Permian’s stock, which closed Monday at a one-month high, has rallied 43% year to date, while the Energy Select Sector SPDR ETF
XLE,
has slipped 3.8% and the S&P 500
SPX,
has advanced 23.5%.
