Vaughan Nelson Investment Management L.P. Has $29.33 Million Stock Holdings in Permian Resources Co. (NYSE:PR)

Vaughan Nelson Investment Management L.P. decreased its stake in Permian Resources Co. (NYSE:PR) by 36.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,154,731 shares of the company’s stock after selling 1,211,330 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Permian Resources were worth $29,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its holdings in shares of Permian Resources by 28,542.9% in the third quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company’s stock valued at $27,000 after purchasing an additional 1,998 shares in the last quarter. Innealta Capital LLC bought a new stake in Permian Resources during the second quarter worth $30,000. Transcendent Capital Group LLC bought a new stake in Permian Resources during the first quarter worth $36,000. UMB Bank n.a. lifted its holdings in Permian Resources by 99.2% during the third quarter. UMB Bank n.a. now owns 2,791 shares of the company’s stock worth $38,000 after acquiring an additional 1,390 shares during the period. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in Permian Resources during the second quarter worth $40,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

Permian Resources Price Performance

NYSE:PR opened at $14.80 on Monday. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 0.89 and a beta of 4.34. Permian Resources Co. has a 52-week low of $12.34 and a 52-week high of $18.28. The stock has a fifty day moving average of $14.03 and a 200 day moving average of $14.99. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.68 and a current ratio of 0.68.

Permian Resources (NYSE:PR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.21. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The firm’s quarterly revenue was up 60.3% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. On average, research analysts expect that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be paid a dividend of $0.15 per share. This is a positive change from Permian Resources’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.60 annualized dividend and a yield of 4.05%. Permian Resources’s dividend payout ratio (DPR) is currently 36.36%.

Insider Activity at Permian Resources

In other Permian Resources news, CAO Robert Regan Shannon sold 4,822 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total transaction of $67,170.46. Following the completion of the sale, the chief accounting officer now owns 61,399 shares of the company’s stock, valued at $855,288.07. The trade was a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Charles Bell sold 4,821 shares of Permian Resources stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $13.93, for a total value of $67,156.53. Following the sale, the executive vice president now directly owns 77,237 shares of the company’s stock, valued at approximately $1,075,911.41. This trade represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Truist Financial raised their target price on Permian Resources from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company decreased their target price on Permian Resources from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 target price on shares of Permian Resources in a research report on Monday, October 14th. UBS Group decreased their target price on Permian Resources from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. decreased their target price on Permian Resources from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.87.

Permian Resources Company 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.