Van ECK Associates Corp Has $31.75 Million Stock Position in Permian Resources Co. (NASDAQ:PR)

Van ECK Associates Corp increased its position in shares of Permian Resources Co. (NASDAQ:PR - Free Report) by 20.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,966,089 shares of the company's stock after purchasing an additional 336,660 shares during the quarter. Van ECK Associates Corp owned 0.26% of Permian Resources worth $31,752,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Permian Resources by 11.2% in the 1st quarter. Vanguard Group Inc. now owns 53,747,975 shares of the company's stock valued at $949,189,000 after buying an additional 5,432,654 shares in the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new stake in Permian Resources during the 4th quarter worth about $353,683,000. Massachusetts Financial Services Co. MA raised its stake in Permian Resources by 96.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,158,892 shares of the company's stock valued at $178,961,000 after purchasing an additional 6,464,093 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Permian Resources by 59.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,048,597 shares of the company's stock valued at $194,585,000 after purchasing an additional 4,497,184 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Permian Resources by 16.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,701,986 shares of the company's stock worth $145,546,000 after purchasing an additional 1,544,525 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

Permian Resources Stock Performance

Shares of PR traded down $0.22 during mid-day trading on Friday, hitting $14.24. The stock had a trading volume of 4,612,263 shares, compared to its average volume of 9,410,546. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.40. The company has a market cap of $10.96 billion, a PE ratio of 12.95, a PEG ratio of 0.77 and a beta of 4.37. Permian Resources Co. has a fifty-two week low of $12.34 and a fifty-two week high of $18.28. The company's fifty day simple moving average is $15.30 and its two-hundred day simple moving average is $16.01.

Permian Resources (NASDAQ:PR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Permian Resources had a return on equity of 11.91% and a net margin of 15.62%. The firm's revenue was up 99.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. On average, equities analysts expect that Permian Resources Co. will post 1.63 earnings per share for the current year.

Permian Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.24 dividend on an annualized basis and a yield of 1.69%. Permian Resources's dividend payout ratio is presently 21.82%.

Analyst Ratings Changes

PR has been the topic of several recent analyst reports. Benchmark reiterated a "buy" rating and set a $17.00 target price on shares of Permian Resources in a research report on Wednesday, August 7th. BMO Capital Markets raised shares of Permian Resources from a "market perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research report on Wednesday, July 3rd. Truist Financial boosted their price objective on shares of Permian Resources from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Piper Sandler cut their target price on Permian Resources from $23.00 to $21.00 and set an "overweight" rating on the stock in a research report on Thursday, August 15th. Finally, Mizuho boosted their price target on Permian Resources from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.00.

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.