GW&K Investment Management LLC Raises Stake in Permian Resources Corporation (NYSE:PR)

GW&K Investment Management LLC boosted its holdings in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 31.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,299,862 shares of the company's stock after buying an additional 1,040,766 shares during the quarter. GW&K Investment Management LLC owned 0.54% of Permian Resources worth $59,553,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PR. Vanguard Group Inc. grew its holdings in shares of Permian Resources by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 65,680,607 shares of the company's stock worth $944,487,000 after buying an additional 870,622 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Permian Resources by 60.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,674,171 shares of the company's stock worth $469,856,000 after buying an additional 12,306,854 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Permian Resources during the 4th quarter valued at about $431,676,000. Massachusetts Financial Services Co. MA boosted its position in shares of Permian Resources by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 18,442,921 shares of the company's stock valued at $265,209,000 after acquiring an additional 291,444 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Permian Resources by 55.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,813,363 shares of the company's stock valued at $169,864,000 after acquiring an additional 4,236,141 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Permian Resources Stock Up 0.0%

Shares of PR traded up $0.01 during mid-day trading on Thursday, hitting $13.53. 4,042,790 shares of the company's stock were exchanged, compared to its average volume of 10,027,823. The company has a market cap of $10.87 billion, a price-to-earnings ratio of 8.35 and a beta of 1.25. Permian Resources Corporation has a fifty-two week low of $10.01 and a fifty-two week high of $16.33. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.86 and a current ratio of 0.86. The stock's 50-day moving average is $13.70 and its 200-day moving average is $13.57.

Permian Resources (NYSE:PR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Permian Resources had a return on equity of 11.96% and a net margin of 22.74%. The firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The firm's quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that Permian Resources Corporation will post 1.45 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.44%. Permian Resources's dividend payout ratio (DPR) is presently 37.04%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America boosted their price target on shares of Permian Resources from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Susquehanna boosted their price target on shares of Permian Resources from $19.00 to $20.00 and gave the company a "positive" rating in a research report on Wednesday. Morgan Stanley lowered their price target on shares of Permian Resources from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Royal Bank Of Canada increased their target price on shares of Permian Resources from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company lowered their target price on shares of Permian Resources from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating, twelve have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $18.47.

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.