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

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

A number of other large investors have also recently made changes to their positions in the company. CX Institutional grew its stake in Permian Basin Royalty Trust by 80.3% during the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 939 shares during the last quarter. NewEdge Advisors LLC increased its position in Permian Basin Royalty Trust by 25.1% during the second quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock worth $87,000 after buying an additional 701 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Permian Basin Royalty Trust in the second quarter valued at approximately $114,000. Post Resch Tallon Group Inc. purchased a new stake in Permian Basin Royalty Trust in the second quarter valued at approximately $210,000. Finally, Tidal Investments LLC purchased a new stake in Permian Basin Royalty Trust in the second quarter valued at approximately $211,000. 28.86% of the stock is owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Stock Performance

Shares of Permian Basin Royalty Trust stock opened at $31.54 on Friday. The company has a market capitalization of $1.47 billion, a P/E ratio of 90.11 and a beta of 0.56. Permian Basin Royalty Trust has a 1 year low of $16.25 and a 1 year high of $37.00. The company’s fifty day moving average is $33.87 and its two-hundred day moving average is $26.77.

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

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 given a $0.0452 dividend. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. The ex-dividend date is Friday, October 30th. This represents a $0.54 annualized dividend and a yield of 1.7%. Permian Basin Royalty Trust’s payout ratio is presently 68.57%.

Analyst Upgrades and Downgrades

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

About Permian Basin Royalty Trust

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.