Permian Resources Corporation $PR Shares Sold by Vaughan Nelson Investment Management L.P.

Key Points

• Vaughan Nelson Investment Management L.P. has reduced its stake in Permian Resources Corporation by 8.8%, now holding 2,330,556 shares valued at approximately $31.7 million.
• Analysts have mixed views on Permian Resources, with reports indicating a current average rating of "Buy" and a price target of $18.63, while some analysts recently adjusted their price objectives.
• Permian Resources has declared a quarterly dividend of $0.15, representing a yield of 4.8%, with a payout ratio of 38.96%.

Vaughan Nelson Investment Management L.P. trimmed its holdings in Permian Resources Corporation (NYSE:PR - Free Report) by 8.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,330,556 shares of the company's stock after selling 223,835 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.29% of Permian Resources worth $31,742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of PR. Allworth Financial LP lifted its holdings in Permian Resources by 376.7% in the 1st quarter. Allworth Financial LP now owns 2,069 shares of the company's stock valued at $29,000 after acquiring an additional 1,635 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in Permian Resources during the 1st quarter worth about $30,000. Keystone Global Partners LLC acquired a new stake in Permian Resources during the 1st quarter worth about $36,000. Brooklyn Investment Group raised its holdings in Permian Resources by 433.9% during the 1st quarter. Brooklyn Investment Group now owns 3,118 shares of the company's stock worth $43,000 after buying an additional 2,534 shares during the period. Finally, Tsfg LLC acquired a new stake in Permian Resources during the 1st quarter worth about $46,000. 91.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on PR shares. Susquehanna boosted their price objective on Permian Resources from $19.00 to $20.00 and gave the stock a "positive" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $17.00 price objective on shares of Permian Resources in a report on Tuesday, September 2nd. Weiss Ratings restated a "buy (b-)" rating on shares of Permian Resources in a report on Saturday, September 27th. Wall Street Zen downgraded Permian Resources from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Scotiabank assumed coverage on Permian Resources in a report on Friday, September 19th. They set a "sector outperform" rating and a $21.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $18.63.

Insider Activity at Permian Resources

In related news, EVP Robert Regan Shannon sold 4,742 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $14.22, for a total value of $67,431.24. Following the completion of the sale, the executive vice president owned 91,805 shares of the company's stock, valued at approximately $1,305,467.10. The trade was a 4.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John Charles Bell sold 4,743 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $14.21, for a total value of $67,398.03. Following the completion of the sale, the executive vice president directly owned 107,569 shares of the company's stock, valued at approximately $1,528,555.49. The trade was a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.44% of the company's stock.

Permian Resources Price Performance

Shares of PR opened at $12.56 on Friday. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 8.15 and a beta of 1.32. 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 current ratio of 0.63 and a quick ratio of 0.63. The business's 50-day moving average is $13.63 and its 200-day moving average is $13.30.

Permian Resources (NYSE:PR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.27 earnings per share for the quarter, meeting analysts' consensus estimates of $0.27. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a return on equity of 10.91% and a net margin of 22.41%.The firm's quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. Equities research analysts expect that Permian Resources Corporation will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.8%. Permian Resources's payout ratio is presently 38.96%.

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.

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