Amalgamated Bank Increases Stock Position in Permian Resources Co. (NYSE:PR)

Amalgamated Bank raised its holdings in shares of Permian Resources Co. (NYSE:PR) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 307,116 shares of the company’s stock after buying an additional 1,634 shares during the period. Amalgamated Bank’s holdings in Permian Resources were worth $4,416,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Principal Securities Inc. lifted its holdings in Permian Resources by 73.6% in the 4th quarter. Principal Securities Inc. now owns 2,010 shares of the company’s stock worth $29,000 after purchasing an additional 852 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of Permian Resources in the fourth quarter worth approximately $31,000. Global Retirement Partners LLC lifted its position in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company’s stock worth $36,000 after purchasing an additional 1,232 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in Permian Resources by 33.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company’s stock valued at $43,000 after buying an additional 800 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Permian Resources by 399.5% in the third quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after purchasing an additional 2,629 shares during the period. Institutional investors own 91.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PR shares. Truist Financial increased their target price on shares of Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler lifted their target price on Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Morgan Stanley assumed coverage on shares of Permian Resources in a research report on Friday, January 10th. They set an “overweight” rating and a $19.00 price target for the company. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.13.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total transaction of $134,043.30. Following the completion of the transaction, the chief financial officer now directly owns 134,617 shares of the company’s stock, valued at approximately $2,059,640.10. This trade represents a 6.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 12.80% of the company’s stock.

Permian Resources Trading Up 0.2 %

NYSE:PR opened at $14.09 on Friday. The company has a market capitalization of $11.32 billion, a P/E ratio of 8.54, a PEG ratio of 4.05 and a beta of 4.28. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a 12 month low of $12.62 and a 12 month high of $18.28. The firm has a fifty day simple moving average of $14.70 and a 200-day simple moving average of $14.47.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.26%. Permian Resources’s dividend payout ratio is currently 36.36%.

Permian Resources Company Profile

Permian Resources Corporation, an independent oil and natural gas company, focuses on the development of crude oil and related liquids-rich natural gas reserves in the United States. The company’s assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. Its properties consist of acreage blocks in West Texas, Eddy County, Lea County, and New Mexico.