Permian Resources Co. (NYSE:PR) Shares Acquired by Amalgamated Bank

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

Other institutional investors have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC acquired a new position in Permian Resources in the 4th quarter valued at $632,000. Wright Investors Service Inc. purchased a new stake in shares of Permian Resources during the 4th quarter valued at approximately $498,000. Point72 Asset Management L.P. raised its position in Permian Resources by 58.3% in the third quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock valued at $74,811,000 after purchasing an additional 2,023,742 shares during the period. South Street Advisors LLC acquired a new position in Permian Resources in the third quarter valued at about $7,142,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Permian Resources during the 3rd quarter worth approximately $556,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Stock Up 0.2 %

Shares of Permian Resources stock opened at $14.09 on Friday. Permian Resources Co. has a one year low of $12.62 and a one year high of $18.28. The company has a market cap 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 debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a fifty day moving average of $14.70 and a two-hundred day 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. Investors of record on Monday, March 17th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 4.26%. Permian Resources’s dividend payout ratio is currently 36.36%.

Insider Activity at Permian Resources

In related news, CFO Guy M. Oliphint sold 8,761 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $15.30, for a total transaction of $134,043.30. Following the transaction, the chief financial officer now owns 134,617 shares of the company’s stock, valued at $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.80% of the stock is owned by insiders.

Analyst Ratings Changes

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

About Permian Resources

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.