Ranger Investment Management L.P. Sells 540,724 Shares of Permian Resources Corporation $PR

Ranger Investment Management L.P. cut its holdings in shares of Permian Resources Corporation (NYSE:PR - Free Report) by 38.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 872,005 shares of the company's stock after selling 540,724 shares during the quarter. Ranger Investment Management L.P. owned 0.10% of Permian Resources worth $18,591,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PR. Vanguard Group Inc. grew its holdings in shares of Permian Resources by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 75,404,843 shares of the company's stock valued at $1,057,930,000 after purchasing an additional 3,941,318 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Permian Resources by 16.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 31,635,572 shares of the company's stock worth $443,856,000 after purchasing an additional 4,533,732 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Permian Resources by 115.5% during the fourth quarter. Bank of New York Mellon Corp now owns 25,153,702 shares of the company's stock valued at $352,906,000 after buying an additional 13,483,136 shares during the period. State Street Corp boosted its position in Permian Resources by 2.0% during the fourth quarter. State Street Corp now owns 23,553,393 shares of the company's stock valued at $330,454,000 after buying an additional 460,158 shares during the period. Finally, Boston Partners grew its stake in shares of Permian Resources by 76.2% during the third quarter. Boston Partners now owns 17,350,663 shares of the company's stock valued at $222,099,000 after buying an additional 7,503,654 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings cut Permian Resources from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, July 15th. Raymond James Financial lowered their price objective on Permian Resources from $29.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Wednesday, June 17th. Roth Capital set a $23.00 target price on shares of Permian Resources and gave the stock a "buy" rating in a report on Monday, June 22nd. BMO Capital Markets raised shares of Permian Resources from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 7th. Finally, Citigroup dropped their price target on shares of Permian Resources from $26.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday, July 15th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $23.29.

Permian Resources Trading Down 2.3%

NYSE PR opened at $19.78 on Wednesday. Permian Resources Corporation has a fifty-two week low of $11.92 and a fifty-two week high of $22.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a 50 day simple moving average of $19.47 and a two-hundred day simple moving average of $18.90. The stock has a market cap of $16.56 billion, a P/E ratio of 23.00 and a beta of 0.46.

Permian Resources (NYSE:PR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Permian Resources had a return on equity of 10.53% and a net margin of 12.79%.The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company earned $0.44 EPS. The business's quarterly revenue was up .9% compared to the same quarter last year. On average, analysts forecast that Permian Resources Corporation will post 1.94 earnings per share for the current year.

Permian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.16 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.64 annualized dividend and a yield of 3.2%. Permian Resources's payout ratio is 74.42%.

Insider Transactions at Permian Resources

In other Permian Resources news, EVP Guy M. Oliphint sold 62,769 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.44, for a total transaction of $1,282,998.36. Following the transaction, the executive vice president directly owned 542,503 shares of the company's stock, valued at approximately $11,088,761.32. The trade was a 10.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.00% of the company's stock.

Permian Resources Profile

Permian Resources NYSE: PR is an independent exploration and production company focused on the acquisition, development and optimization of oil and natural gas assets in the Permian Basin. The company’s operations encompass all phases of upstream activity, including geological and geophysical analysis, drilling, completion and production. By employing horizontal drilling and hydraulic fracturing technologies, Permian Resources aims to efficiently unlock hydrocarbon reserves and deliver consistent production growth.

Headquartered in Oklahoma City, Permian Resources concentrates its asset portfolio in the Delaware and Midland sub-basins of West Texas and southeastern New Mexico.

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