13 Best Natural Gas and Oil Dividend Stocks To Buy

4. Permian Resources Corporation (NYSE:PR) 

Number of Hedge Fund Holders: 56

Dividend Yield: 4.97%

Permian Resources Corporation (NYSE:PR) is an independent oil and natural gas company with operations focused in the Permian Basin, with assets concentrated in the core of the Delaware Basin.

Permian Resources Corporation (NYSE:PR) successfully closed its $818 million Barilla Draw acquisition last year, increasing its output by about 24,000 barrels of oil equivalent per day. The deal also added about 27,500 net acres to the company’s footprint in the Permian Basin, which is the largest shale oil belt in the world. The oil producer stated that the bolt-on deal acreage is well-situated for economic, long-lateral development and proximity to the company’s existing acreage enables ‘seamless integration, driving meaningful operational synergies’.

Permian Resources Corporation (NYSE:PR) continued the efficient development of its core Delaware Basin acreage position in Q3 2024, as it beat expectations with oil production of 161,000 barrels of oil per day and total production of 347,000 barrels of oil equivalent per day. Moreover, the company also continued to drive operational efficiencies and its drilling and completion costs per lateral foot were approximately $800 during the quarter, a $150 per lateral foot reduction from the previous year. Thanks to these encouraging results, the company increased its full year production guidance for the third consecutive quarter in Q3. Moreover, PR ended the quarter with almost $2.8 billion of liquidity and announced a quarterly base dividend of $0.15 per share, a 150% increase compared to the prior quarter.

Following an impressive Q3, Aristotle Capital Boston, LLC, stated the following about Permian Resources Corporation (NYSE:PR) in its Q3 investment letter:

“Permian Resources Corporation (NYSE:PR) is a Texas-based oil & gas exploration & production company with a large acreage position and deep inventory of high return potential drilling locations in the core of the Permian Basin. We expect management to continue to execute on its strategy of optimizing returns, diligently allocating capital to new opportunities, and returning excess capital to shareholders.”