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

Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Permian Resources Co. (NYSE:PR) by 68.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,636,091 shares of the company’s stock after purchasing an additional 1,481,360 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.45% of Permian Resources worth $52,288,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wright Investors Service Inc. acquired a new position in Permian Resources in the 4th quarter valued at $498,000. Point72 Asset Management L.P. boosted its holdings in shares of Permian Resources by 58.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,496,765 shares of the company’s stock worth $74,811,000 after purchasing an additional 2,023,742 shares during the last quarter. Tributary Capital Management LLC grew its position in shares of Permian Resources by 8,360.8% in the third quarter. Tributary Capital Management LLC now owns 51,357 shares of the company’s stock valued at $699,000 after purchasing an additional 50,750 shares in the last quarter. South Street Advisors LLC acquired a new stake in shares of Permian Resources in the third quarter valued at approximately $7,142,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Permian Resources during the third quarter worth approximately $556,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Trading Up 0.5 %

NYSE PR opened at $14.38 on Friday. Permian Resources Co. has a one year low of $12.62 and a one year high of $18.28. The firm has a 50 day simple moving average of $14.79 and a 200-day simple moving average of $14.51. The firm has a market cap of $11.55 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 3.96 and a beta of 4.28. 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 released its earnings results on Wednesday, November 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.32 by $0.21. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Permian Resources had a return on equity of 11.15% and a net margin of 21.20%. Permian Resources’s revenue for the quarter was up 60.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. Equities research analysts anticipate that Permian Resources Co. will post 1.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PR has been the subject of a number of recent research reports. Morgan Stanley started coverage on Permian Resources in a research note on Friday, January 10th. They issued an “overweight” rating and a $19.00 target price for the company. Benchmark decreased their target price on shares of Permian Resources from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and set a $17.00 price target on shares of Permian Resources in a report on Monday, October 14th. Piper Sandler lifted their price target on shares of Permian Resources from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Truist Financial raised their target price on Permian Resources from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.13.

Insider Buying and Selling at Permian Resources

In other Permian Resources news, CFO Guy M. Oliphint sold 8,761 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $15.30, for a total value of $134,043.30. Following the transaction, the chief financial officer now directly owns 134,617 shares in the company, valued at $2,059,640.10. This represents a 6.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.80% of the company’s stock.

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.