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

Vaughan Nelson Investment Management L.P. decreased its holdings in Permian Resources Co. (NYSE:PR - Free Report) by 29.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,554,391 shares of the company's stock after selling 1,081,700 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.32% of Permian Resources worth $35,378,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. raised its stake in shares of Permian Resources by 73.6% during the fourth quarter. Principal Securities Inc. now owns 2,010 shares of the company's stock valued at $29,000 after purchasing an additional 852 shares during the period. Global Retirement Partners LLC raised its stake in shares of Permian Resources by 98.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,484 shares of the company's stock valued at $36,000 after purchasing an additional 1,232 shares during the period. Rakuten Securities Inc. raised its stake in shares of Permian Resources by 1,152.5% during the fourth quarter. Rakuten Securities Inc. now owns 2,505 shares of the company's stock valued at $36,000 after purchasing an additional 2,305 shares during the period. RE Dickinson Investment Advisors LLC purchased a new stake in shares of Permian Resources during the fourth quarter valued at approximately $41,000. Finally, Lindbrook Capital LLC raised its stake in shares of Permian Resources by 294.8% during the fourth quarter. Lindbrook Capital LLC now owns 2,886 shares of the company's stock valued at $42,000 after purchasing an additional 2,155 shares during the period. Hedge funds and other institutional investors own 91.84% of the company's stock.

Permian Resources Stock Performance

Permian Resources stock traded up $0.48 during mid-day trading on Friday, reaching $14.95. The company's stock had a trading volume of 15,819,070 shares, compared to its average volume of 9,807,815. The firm has a market cap of $12.01 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 4.05 and a beta of 1.24. The business has a 50 day moving average price of $12.61 and a 200-day moving average price of $13.67. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a twelve month low of $10.01 and a twelve month high of $16.95.

Permian Resources (NYSE:PR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. Sell-side analysts predict that Permian Resources Co. will post 1.45 EPS for the current fiscal year.

Permian Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Monday, June 16th. Permian Resources's dividend payout ratio (DPR) is 37.04%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PR shares. Royal Bank of Canada lifted their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Bank of America raised their price target on shares of Permian Resources from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Piper Sandler decreased their price target on shares of Permian Resources from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Susquehanna decreased their price target on shares of Permian Resources from $20.00 to $19.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Permian Resources from $21.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.56.

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.