Vaughan Nelson Investment Management L.P. Sells 487,645 Shares of Permian Resources Co. (NASDAQ:PR)

Vaughan Nelson Investment Management L.P. decreased its holdings in Permian Resources Co. (NASDAQ:PR) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,366,061 shares of the company’s stock after selling 487,645 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.44% of Permian Resources worth $54,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Simplicity Wealth LLC boosted its stake in shares of Permian Resources by 5.2% in the 2nd quarter. Simplicity Wealth LLC now owns 13,150 shares of the company’s stock worth $212,000 after buying an additional 646 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Permian Resources by 19.6% in 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. Azzad Asset Management Inc. ADV grew its stake in shares of Permian Resources by 2.0% during the first quarter. Azzad Asset Management Inc. ADV now owns 38,347 shares of the company’s stock valued at $677,000 after buying an additional 740 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its stake in shares of Permian Resources by 3.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 25,690 shares of the company’s stock valued at $454,000 after purchasing an additional 781 shares during the period. Finally, Chilton Capital Management LLC increased its position in shares of Permian Resources by 4.6% during the first quarter. Chilton Capital Management LLC now owns 22,868 shares of the company’s stock worth $404,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

Permian Resources Stock Performance

PR traded down $0.23 on Friday, hitting $14.87. The company had a trading volume of 7,821,710 shares, compared to its average volume of 11,811,043. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.50 and a quick ratio of 0.50. Permian Resources Co. has a 1-year low of $12.24 and a 1-year high of $18.28. The company’s fifty day moving average price is $15.51 and its 200 day moving average price is $15.94. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 0.57 and a beta of 4.37.

Permian Resources (NASDAQ:PR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $0.27 EPS. Permian Resources’s quarterly revenue was up 99.9% on a year-over-year basis. Equities analysts predict that Permian Resources Co. will post 1.7 earnings per share for the current fiscal year.

Permian Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Monday, August 19th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Monday, August 19th. Permian Resources’s payout ratio is presently 21.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PR. Citigroup cut their price objective on shares of Permian Resources from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Susquehanna decreased their price objective on Permian Resources from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. UBS Group dropped their price target on shares of Permian Resources from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Permian Resources in a report on Monday, August 12th. Finally, Truist Financial boosted their price objective on Permian Resources from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

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.