State of Wyoming Sells 28,815 Shares of Permian Basin Royalty Trust $PBT

State of Wyoming decreased its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 65.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,442 shares of the oil and gas producer’s stock after selling 28,815 shares during the quarter. State of Wyoming’s holdings in Permian Basin Royalty Trust were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PBT. Kestra Advisory Services LLC acquired a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at $28,000. NewEdge Advisors LLC boosted its holdings in Permian Basin Royalty Trust by 53.1% in the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after acquiring an additional 1,304 shares during the last quarter. Bank of America Corp DE boosted its holdings in Permian Basin Royalty Trust by 27.0% in the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock valued at $162,000 after acquiring an additional 2,769 shares during the last quarter. Royal Bank of Canada increased its position in Permian Basin Royalty Trust by 6.0% in the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock worth $166,000 after purchasing an additional 558 shares during the period. Finally, Creative Planning increased its position in Permian Basin Royalty Trust by 14.5% in the second quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock worth $187,000 after purchasing an additional 1,903 shares during the period. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Stock Performance

Shares of PBT stock opened at $27.62 on Tuesday. Permian Basin Royalty Trust has a 52-week low of $12.95 and a 52-week high of $32.25. The stock has a market cap of $1.29 billion, a PE ratio of 86.32 and a beta of 0.48. The firm’s 50 day moving average price is $27.59 and its two-hundred day moving average price is $23.19.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. The company had revenue of $3.57 million during the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.0436 dividend. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, July 31st. Permian Basin Royalty Trust’s dividend payout ratio is currently 93.75%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Permian Basin Royalty Trust presently has an average rating of “Hold”.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.