Amalgamated Bank Grows Position in Permian Resources Co. (NASDAQ:PR)

Amalgamated Bank boosted its position in shares of Permian Resources Co. (NASDAQ:PR - Free Report) by 43.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,567 shares of the company's stock after acquiring an additional 104,733 shares during the period. Amalgamated Bank's holdings in Permian Resources were worth $5,629,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. grew its stake in Permian Resources by 9.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,939 shares of the company's stock valued at $209,000 after acquiring an additional 1,147 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Permian Resources by 7.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 643,521 shares of the company's stock worth $10,393,000 after buying an additional 44,482 shares in the last quarter. Renaissance Technologies LLC grew its stake in Permian Resources by 20.6% in the 2nd quarter. Renaissance Technologies LLC now owns 9,108,803 shares of the company's stock worth $147,107,000 after buying an additional 1,555,884 shares in the last quarter. Quantbot Technologies LP grew its stake in Permian Resources by 54.3% in the 2nd quarter. Quantbot Technologies LP now owns 558,579 shares of the company's stock worth $9,021,000 after buying an additional 196,542 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Permian Resources by 9.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,607,623 shares of the company's stock worth $268,213,000 after buying an additional 1,471,833 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group cut their price target on shares of Permian Resources from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday. Truist Financial boosted their price target on shares of Permian Resources from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Piper Sandler lowered their price objective on shares of Permian Resources from $23.00 to $21.00 and set an "overweight" rating for the company in a report on Thursday, August 15th. Mizuho lowered their price objective on shares of Permian Resources from $22.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Finally, Wolfe Research assumed coverage on shares of Permian Resources in a report on Thursday, July 18th. They issued a "peer perform" rating for the company. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.50.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP John Charles Bell sold 4,821 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $13.93, for a total transaction of $67,156.53. Following the transaction, the executive vice president now owns 77,237 shares in the company, valued at approximately $1,075,911.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Robert Regan Shannon sold 4,822 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,170.46. Following the transaction, the chief accounting officer now directly owns 61,399 shares in the company, valued at approximately $855,288.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Charles Bell sold 4,821 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the completion of the transaction, the executive vice president now owns 77,237 shares in the company, valued at $1,075,911.41. The disclosure for this sale can be found here. Company insiders own 12.80% of the company's stock.

Permian Resources Stock Down 0.9 %

NASDAQ:PR traded down $0.12 during mid-day trading on Friday, hitting $13.90. 35,275,514 shares of the company's stock were exchanged, compared to its average volume of 10,088,651. Permian Resources Co. has a one year low of $12.34 and a one year high of $18.28. The business has a fifty day moving average price of $14.51 and a 200 day moving average price of $15.83. The company has a market cap of $10.70 billion, a PE ratio of 12.64, a P/E/G ratio of 0.77 and a beta of 4.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50.

Permian Resources (NASDAQ:PR - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The company's revenue for the quarter was up 99.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 earnings per share. Equities analysts predict that Permian Resources Co. will post 1.57 EPS for the current year.

Permian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Monday, August 19th. Permian Resources's payout ratio is 21.82%.

Permian Resources 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.