State of Wyoming Has $332,000 Stock Holdings in 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 its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.

Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its holdings 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. HighTower Advisors LLC boosted its position in shares of Permian Basin Royalty Trust by 0.8% during the fourth quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer’s stock worth $1,217,000 after purchasing an additional 604 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 1,304 shares during the period. Welch Group LLC increased its position in shares of Permian Basin Royalty Trust by 8.4% in the 1st quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer’s stock valued at $415,000 after buying an additional 1,500 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at $28,000. Institutional investors own 28.86% of the company’s stock.

Analysts Set New Price Targets

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

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 company’s 50 day moving average price is $27.59 and its two-hundred day moving average price is $23.19. The company has a market capitalization of $1.29 billion, a P/E ratio of 86.32 and a beta of 0.48.

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

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 given a $0.0436 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a yield of 1.9%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s payout ratio is presently 93.75%.

Permian Basin Royalty Trust Profile

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.