Morgan Stanley raised its holdings in Permian Basin Royalty Trust (NYSE:PBT) by 48.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,452 shares of the oil and gas producer’s stock after acquiring an additional 30,681 shares during the period. Morgan Stanley owned approximately 0.20% of Permian Basin Royalty Trust worth $575,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. TRUE Private Wealth Advisors acquired a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at about $26,000. Tranquility Partners LLC acquired a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at about $69,000. LPL Financial LLC acquired a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at about $76,000. Advisor Group Inc. raised its holdings in Permian Basin Royalty Trust by 4.9% in the 2nd quarter. Advisor Group Inc. now owns 44,543 shares of the oil and gas producer’s stock valued at $271,000 after acquiring an additional 2,068 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Permian Basin Royalty Trust by 268.1% in the 2nd quarter. Renaissance Technologies LLC now owns 92,401 shares of the oil and gas producer’s stock valued at $563,000 after acquiring an additional 67,300 shares during the last quarter. Institutional investors own 9.54% of the company’s stock.
PBT stock opened at $4.00 on Friday. The company has a market cap of $185.97 million, a price-to-earnings ratio of 8.24 and a beta of 0.80. Permian Basin Royalty Trust has a 12 month low of $3.97 and a 12 month high of $8.50. The firm has a 50-day moving average of $4.45 and a two-hundred day moving average of $5.33.
The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.0277 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $0.33 annualized dividend and a dividend yield of 8.31%.
Permian Basin Royalty Trust Profile
Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, University-Waddell, and Waddell fields located in Crane County, Texas.
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