GeoWealth Management LLC Acquires 9,176 Shares of Permian Basin Royalty Trust (NYSE:PBT)

GeoWealth Management LLC boosted its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT) by 22.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,947 shares of the oil and gas producer’s stock after purchasing an additional 9,176 shares during the quarter. GeoWealth Management LLC owned about 0.11% of Permian Basin Royalty Trust worth $550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Horizon Kinetics Asset Management LLC boosted its position in shares of Permian Basin Royalty Trust by 7.1% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 3,946,083 shares of the oil and gas producer’s stock valued at $43,723,000 after acquiring an additional 261,819 shares during the period. Wells Fargo & Company MN raised its stake in Permian Basin Royalty Trust by 211.0% during the 4th quarter. Wells Fargo & Company MN now owns 233,493 shares of the oil and gas producer’s stock valued at $2,587,000 after purchasing an additional 158,403 shares during the last quarter. OFI Invest Asset Management bought a new stake in Permian Basin Royalty Trust in the 4th quarter valued at $1,327,000. Commonwealth Equity Services LLC grew its position in Permian Basin Royalty Trust by 87.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 220,527 shares of the oil and gas producer’s stock worth $2,443,000 after purchasing an additional 102,568 shares during the last quarter. Finally, Hosking Partners LLP increased its holdings in shares of Permian Basin Royalty Trust by 28.3% during the 4th quarter. Hosking Partners LLP now owns 307,551 shares of the oil and gas producer’s stock worth $3,408,000 after purchasing an additional 67,858 shares during the period. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Up 1.6 %

Shares of NYSE:PBT opened at $9.77 on Monday. The business’s 50 day moving average is $10.11 and its 200-day moving average is $11.22. The firm has a market capitalization of $455.14 million, a PE ratio of 12.52 and a beta of 0.58. Permian Basin Royalty Trust has a 1-year low of $8.01 and a 1-year high of $14.26.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings data on Friday, March 14th. The oil and gas producer reported $0.08 EPS for the quarter. The company had revenue of $3.79 million during the quarter. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, April 14th. Shareholders of record on Monday, March 31st were issued a dividend of $0.018 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.22%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date was Monday, March 31st. Permian Basin Royalty Trust’s payout ratio is presently 38.18%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.