Vaughan Nelson Investment Management L.P. Grows Stake in Permian Resources Co. (NASDAQ:PR)

Vaughan Nelson Investment Management L.P. lifted its holdings in Permian Resources Co. (NASDAQ:PR - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,131,126 shares of the company's stock after purchasing an additional 210,870 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.40% of Permian Resources worth $42,584,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PR. Envestnet Asset Management Inc. acquired a new position in Permian Resources during the third quarter worth $1,053,000. Macquarie Group Ltd. acquired a new position in shares of Permian Resources in the third quarter valued at $105,000. Bank of New York Mellon Corp acquired a new position in shares of Permian Resources in the third quarter valued at $8,153,000. Ensign Peak Advisors Inc acquired a new position in shares of Permian Resources in the third quarter valued at $233,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Permian Resources in the third quarter valued at $669,000. Institutional investors own 91.84% of the company's stock.

Permian Resources Trading Up 1.2 %

Shares of Permian Resources stock traded up $0.21 on Friday, hitting $17.93. The stock had a trading volume of 7,173,298 shares, compared to its average volume of 9,377,175. The stock has a 50 day moving average of $15.52 and a 200 day moving average of $14.27. Permian Resources Co. has a twelve month low of $8.94 and a twelve month high of $18.07. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $13.84 billion, a P/E ratio of 15.46 and a beta of 4.35.

Permian Resources (NASDAQ:PR - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Permian Resources had a net margin of 15.26% and a return on equity of 10.98%. Sell-side analysts expect that Permian Resources Co. will post 1.5 earnings per share for the current fiscal year.

Permian Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, March 12th. Permian Resources's dividend payout ratio (DPR) is 17.24%.

Insider Transactions at Permian Resources

In related news, CAO Brent P. Jensen sold 1,853 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $27,127.92. Following the transaction, the chief accounting officer now directly owns 1,047,610 shares in the company, valued at approximately $15,337,010.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Brent P. Jensen sold 203,687 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $14.55, for a total value of $2,963,645.85. Following the transaction, the chief accounting officer now directly owns 1,062,345 shares in the company, valued at approximately $15,457,119.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Brent P. Jensen sold 1,853 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.64, for a total value of $27,127.92. Following the completion of the transaction, the chief accounting officer now owns 1,047,610 shares in the company, valued at $15,337,010.40. The disclosure for this sale can be found here. Insiders sold a total of 32,916,943 shares of company stock valued at $516,796,999 in the last quarter. 23.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PR shares. Royal Bank of Canada restated an "outperform" rating and issued a $17.00 price target on shares of Permian Resources in a research note on Tuesday, March 5th. Bank of America started coverage on shares of Permian Resources in a research note on Friday, January 5th. They issued a "neutral" rating and a $15.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Permian Resources from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Susquehanna upped their price objective on shares of Permian Resources from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, February 29th. Finally, Benchmark upped their price objective on shares of Permian Resources from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Permian Resources currently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

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.