Permian Resources Co. (NASDAQ:PR) Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. cut its stake in Permian Resources Co. (NASDAQ:PR) by 12.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,366,061 shares of the company’s stock after selling 487,645 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Permian Resources were worth $54,362,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Simplicity Wealth LLC boosted its stake in Permian Resources by 5.2% in the second quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock valued at $212,000 after acquiring an additional 646 shares in the last quarter. GAMMA Investing LLC increased its stake in Permian Resources by 19.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock valued at $70,000 after purchasing an additional 716 shares in the last quarter. Azzad Asset Management Inc. ADV increased its position in Permian Resources by 2.0% during the first quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock worth $677,000 after buying an additional 740 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in shares of Permian Resources by 3.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after purchasing an additional 781 shares during the last quarter. Finally, Chilton Capital Management LLC boosted its holdings in Permian Resources by 4.6% in the first quarter. Chilton Capital Management LLC now owns 22,868 shares of the company’s stock valued at $404,000 after acquiring an additional 1,000 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PR has been the subject of a number of recent analyst reports. Piper Sandler lowered their price objective on Permian Resources from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday. Mizuho raised their price objective on shares of Permian Resources from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Truist Financial increased their target price on shares of Permian Resources from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Permian Resources in a research report on Monday, August 12th. Finally, Citigroup lowered their price target on Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Permian Resources Price Performance

Shares of NASDAQ:PR traded down $0.23 on Friday, hitting $14.87. The stock had a trading volume of 7,821,710 shares, compared to its average volume of 11,811,043. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 0.57 and a beta of 4.37. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.50. Permian Resources Co. has a twelve month low of $12.24 and a twelve month high of $18.28. The firm’s 50 day moving average price is $15.51 and its 200-day moving average price is $15.94.

Permian Resources (NASDAQ:PR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was up 99.9% compared to the same quarter last year. On average, equities research analysts predict that Permian Resources Co. will post 1.7 earnings per share for the current year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th will be paid a $0.06 dividend. The ex-dividend date is Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.61%. 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.