State of Wyoming Purchases 20,679 Shares of Permian Basin Royalty Trust $PBT

State of Wyoming lifted its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 537.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,530 shares of the oil and gas producer’s stock after purchasing an additional 20,679 shares during the period. State of Wyoming owned about 0.05% of Permian Basin Royalty Trust worth $772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PBT. Sei Investments Co. increased its holdings in Permian Basin Royalty Trust by 116.0% in the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock valued at $9,081,000 after buying an additional 226,600 shares during the last quarter. Mad River Investors raised its stake in Permian Basin Royalty Trust by 5.1% in the third quarter. Mad River Investors now owns 1,056,366 shares of the oil and gas producer’s stock valued at $33,254,000 after buying an additional 51,214 shares in the last quarter. Post Resch Tallon Group Inc. raised its stake in Permian Basin Royalty Trust by 10.2% in the third quarter. Post Resch Tallon Group Inc. now owns 9,261 shares of the oil and gas producer’s stock valued at $292,000 after buying an additional 859 shares in the last quarter. CX Institutional lifted its holdings in Permian Basin Royalty Trust by 31.5% during the 3rd quarter. CX Institutional now owns 2,773 shares of the oil and gas producer’s stock worth $87,000 after buying an additional 664 shares during the last quarter. Finally, Corient Private Wealth LP lifted its holdings in Permian Basin Royalty Trust by 10.4% during the 2nd quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer’s stock worth $522,000 after buying an additional 1,974 shares during the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Down 2.8%

PBT stock opened at $31.54 on Friday. Permian Basin Royalty Trust has a twelve month low of $16.25 and a twelve month high of $37.00. The company’s 50 day moving average is $33.87 and its two-hundred day moving average is $26.77. The stock has a market cap of $1.47 billion, a P/E ratio of 90.11 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $4.18 million during the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be paid a dividend of $0.0452 per share. The ex-dividend date is Friday, October 30th. This represents a $0.54 annualized dividend and a yield of 1.7%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 68.57%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Permian Basin Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Permian Basin Royalty Trust currently has an average rating of “Hold”.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust (NYSE: PBT) is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not explore for, develop, or operate properties itself. Instead, it receives proceeds generated from the production and sale of hydrocarbons from properties in which it owns royalty or net profits interests.

The trust’s principal interests include properties associated with the Waddell Ranch in Texas, as well as additional Texas royalty properties.