Amalgamated Bank Has $4.10 Million Position in Permian Resources Corporation (NYSE:PR)

Amalgamated Bank lowered its holdings in shares of Permian Resources Corporation (NYSE:PR) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,208 shares of the company’s stock after selling 10,908 shares during the quarter. Amalgamated Bank’s holdings in Permian Resources were worth $4,102,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Rakuten Securities Inc. grew its holdings in shares of Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company’s stock worth $36,000 after buying an additional 2,305 shares in the last quarter. RE Dickinson Investment Advisors LLC bought a new position in shares of Permian Resources during the fourth quarter worth about $41,000. Lindbrook Capital LLC grew its holdings in shares of Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company’s stock worth $42,000 after buying an additional 2,155 shares in the last quarter. Tsfg LLC bought a new position in shares of Permian Resources during the first quarter worth about $46,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Permian Resources by 93.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,634 shares of the company’s stock worth $51,000 after buying an additional 1,751 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley decreased their price objective on Permian Resources from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Wells Fargo & Company decreased their price objective on Permian Resources from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, June 16th. Royal Bank Of Canada increased their price objective on Permian Resources from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Bank of America raised their price target on Permian Resources from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $23.00 price target (up from $20.00) on shares of Permian Resources in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.33.

Permian Resources Stock Performance

PR opened at $14.07 on Friday. Permian Resources Corporation has a 12-month low of $10.01 and a 12-month high of $16.95. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 8.68 and a beta of 1.25. The business has a 50 day moving average of $13.36 and a 200-day moving average of $13.60. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.34.

Permian Resources (NYSE:PR) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Permian Resources had a net margin of 22.74% and a return on equity of 11.96%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Permian Resources Corporation will post 1.45 earnings per share for the current year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.15 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.27%. Permian Resources’s payout ratio is 37.04%.

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.