Vaughan Nelson Investment Management L.P. Boosts Stock Position in Permian Resources Co. (NYSE:PR)

Vaughan Nelson Investment Management L.P. grew its stake in shares of Permian Resources Co. (NYSE:PR - Free Report) by 68.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,636,091 shares of the company's stock after buying an additional 1,481,360 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.45% of Permian Resources worth $52,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of PR. Hexagon Capital Partners LLC increased its holdings in shares of Permian Resources by 28,542.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,005 shares of the company's stock valued at $27,000 after acquiring an additional 1,998 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of Permian Resources during the fourth quarter worth approximately $31,000. UMB Bank n.a. lifted its position in Permian Resources by 99.2% during the 3rd quarter. UMB Bank n.a. now owns 2,791 shares of the company's stock worth $38,000 after buying an additional 1,390 shares in the last quarter. Sunbelt Securities Inc. raised its position in Permian Resources by 33.4% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,192 shares of the company's stock worth $43,000 after purchasing an additional 800 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Permian Resources by 399.5% during the 3rd quarter. Blue Trust Inc. now owns 3,287 shares of the company's stock valued at $45,000 after purchasing an additional 2,629 shares during the period. Institutional investors own 91.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Permian Resources from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Morgan Stanley assumed coverage on Permian Resources in a report on Friday, January 10th. They set an "overweight" rating and a $19.00 target price on the stock. Benchmark reduced their price objective on Permian Resources from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, October 16th. Finally, Piper Sandler boosted their target price on shares of Permian Resources from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Permian Resources presently has a consensus rating of "Moderate Buy" and an average target price of $19.13.

Insider Transactions at Permian Resources

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

Permian Resources Stock Performance

Permian Resources stock traded down $0.73 during midday trading on Wednesday, reaching $14.28. 10,312,285 shares of the company traded hands, compared to its average volume of 7,236,292. The firm has a market capitalization of $11.47 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 3.96 and a beta of 4.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.68 and a quick ratio of 0.68. Permian Resources Co. has a 12 month low of $12.62 and a 12 month high of $18.28. The business has a 50 day moving average of $14.76 and a two-hundred day moving average of $14.49.

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.