12 High Growth Low PE Stocks to Buy

2. Permian Resources Corporation (NYSE:PR)

5-Year Revenue CAGR: 39.60%

Number of Hedge Fund Holders: 56

Forward P/E as of January 29: 9.76

Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company that focuses on the development of crude oil and related liquids-rich natural gas reserves. The company’s assets primarily focus on the Delaware Basin. As the overall oil and gas sector remained under pressure in 2024, the stock rallied by 10.15%. The impressive performance underscores the company’s strong operational and financial performance.

Permian Resources Corporation’s (NYSE:PR) edge in the oil and gas sector stems from the robustness of its operations in the Delaware basin, deemed immune to fluctuations in commodity prices. The fact that the company’s breakeven point on oil is at $30 a barrel affirms it will always generate profits even with oil plunging below the $70 a barrel level.

With a clear strategy centered on consolidation within the Delaware Basin, Permian Resources Corporation (NYSE:PR) has been among the most acquisitive companies in its industry in recent years. Management has a proven track record of successfully locating, carrying out, and integrating value-accretive acquisitions. Last year, they acquired oil-generating assets from Occidental Petroleum Corporation for $817.5 million. It has also enhanced its leading position in the Delaware Basin and increased operating size and scale with the acquisition of Earthstone Energy, Inc.