Amalgamated Bank boosted its position in shares of Permian Resources Co. (NASDAQ:PR – Free Report) by 508.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 159,660 shares of the company’s stock after buying an additional 133,434 shares during the period. Amalgamated Bank’s holdings in Permian Resources were worth $2,229,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC raised its stake in shares of Permian Resources by 50.0% in the second quarter. Chilton Capital Management LLC now owns 3,000 shares of the company’s stock valued at $33,000 after acquiring an additional 1,000 shares during the last quarter. Quarry LP acquired a new stake in Permian Resources during the 1st quarter valued at $33,000. Clearstead Advisors LLC acquired a new stake in Permian Resources during the 3rd quarter valued at $45,000. Sandia Investment Management LP bought a new position in Permian Resources in the 1st quarter valued at $52,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Permian Resources in the third quarter worth $64,000. 53.49% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on PR. Susquehanna lowered their target price on Permian Resources from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, November 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of Permian Resources in a research report on Tuesday, January 23rd. Citigroup boosted their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Piper Sandler decreased their price objective on Permian Resources from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company started coverage on Permian Resources in a research report on Wednesday, November 15th. They set an “overweight” rating and a $17.00 target price for the company. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Permian Resources has an average rating of “Moderate Buy” and a consensus target price of $16.40.
Insider Buying and Selling at Permian Resources
In related news, Director Robert John Anderson sold 400,000 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $13.41, for a total value of $5,364,000.00. Following the completion of the sale, the director now owns 1,594,667 shares in the company, valued at approximately $21,384,484.47. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Encap Partners Gp, Llc sold 7,507,508 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $12.93, for a total value of $97,072,078.44. Following the sale, the insider now directly owns 29,027,950 shares in the company, valued at $375,331,393.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert John Anderson sold 400,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $13.41, for a total value of $5,364,000.00. Following the completion of the sale, the director now owns 1,594,667 shares in the company, valued at approximately $21,384,484.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,916,483 shares of company stock valued at $102,558,856. Corporate insiders own 23.14% of the company’s stock.
Permian Resources Stock Performance
Shares of PR stock opened at $13.98 on Tuesday. The stock has a 50-day moving average of $13.32 and a 200-day moving average of $13.46. Permian Resources Co. has a one year low of $8.94 and a one year high of $15.49. The stock has a market cap of $10.82 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 1.10 and a beta of 4.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.74 and a quick ratio of 0.74.
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. Its assets primarily focus on the Delaware Basin, a sub-basin of the Permian Basin. The company's properties consist of acreage blocks in Reeves County, West Texas and Lea County, New Mexico.
- Five stocks we like better than Permian Resources
- What is the Nikkei 225 index?
- 3 attractive stocks that insiders are buying
- Investing in large cap stocks: Diving into big caps
- Alpha and Omega Semiconductor ready to bounce, DOJ cloud lifts
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Wendy’s vs Shake Shack: Out with the new, in with the old?
Receive News & Ratings for Permian Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Permian Resources and related companies with MarketBeat.com's FREE daily email newsletter.