Vaughan Nelson Investment Management L.P. Sells 1,211,330 Shares of Permian Resources Co. (NYSE:PR)

Vaughan Nelson Investment Management L.P. decreased its stake in shares of Permian Resources Co. (NYSE:PR) by 36.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,154,731 shares of the company’s stock after selling 1,211,330 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.27% of Permian Resources worth $29,326,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Simplicity Wealth LLC increased its position in shares of Permian Resources by 5.2% during the 2nd quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock worth $212,000 after purchasing an additional 646 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Permian Resources by 19.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,364 shares of the company’s stock worth $70,000 after acquiring an additional 716 shares during the last quarter. Mount Yale Investment Advisors LLC increased its holdings in shares of Permian Resources by 3.1% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock worth $454,000 after acquiring an additional 781 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Permian Resources by 0.5% during the 2nd quarter. Larson Financial Group LLC now owns 209,245 shares of the company’s stock worth $3,379,000 after acquiring an additional 949 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Permian Resources by 17.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,833 shares of the company’s stock worth $110,000 after acquiring an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PR. The Goldman Sachs Group began coverage on Permian Resources in a report on Monday, September 30th. They issued a “buy” rating and a $19.00 price objective on the stock. Benchmark decreased their price objective on Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Citigroup cut their target price on Permian Resources from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 9th. UBS Group cut 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, Truist Financial upped their target price on Permian Resources from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two equities research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.87.

Permian Resources Price Performance

Shares of PR stock opened at $14.80 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.40. Permian Resources Co. has a twelve month low of $12.34 and a twelve month high of $18.28. The company has a market cap of $11.88 billion, a P/E ratio of 8.97, a P/E/G ratio of 0.89 and a beta of 4.34. The business has a fifty day simple moving average of $14.03 and a 200 day simple moving average of $14.99.

Permian Resources (NYSE:PR) last issued its earnings results on Wednesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 60.3% compared to the same quarter last year. On average, sell-side analysts forecast that Permian Resources Co. will post 1.47 EPS for the current fiscal year.

Permian Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Thursday, November 14th. This is a boost from Permian Resources’s previous quarterly dividend of $0.06. Permian Resources’s dividend payout ratio is presently 36.36%.

Insiders Place Their Bets

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

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.