Fifth Third Bancorp Invests $91,000 in Permian Basin Royalty Trust (NYSE:PBT)

Fifth Third Bancorp acquired a new position in shares of Permian Basin Royalty Trust (NYSE:PBT – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,600 shares of the oil and gas producer’s stock, valued at approximately $91,000.

Several other large investors have also modified their holdings of the stock. Raymond James & Associates bought a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter worth $168,000. Sinecera Capital LLC boosted its position in shares of Permian Basin Royalty Trust by 0.5% in the third quarter. Sinecera Capital LLC now owns 121,675 shares of the oil and gas producer’s stock worth $2,014,000 after buying an additional 572 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Permian Basin Royalty Trust by 3.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 71,224 shares of the oil and gas producer’s stock worth $1,163,000 after buying an additional 2,665 shares during the period. LPL Financial LLC boosted its position in shares of Permian Basin Royalty Trust by 10.6% in the second quarter. LPL Financial LLC now owns 86,300 shares of the oil and gas producer’s stock worth $1,428,000 after buying an additional 8,298 shares during the period. Finally, SoftVest Advisors LLC boosted its position in shares of Permian Basin Royalty Trust by 6.7% in the second quarter. SoftVest Advisors LLC now owns 4,108,195 shares of the oil and gas producer’s stock worth $67,991,000 after buying an additional 258,656 shares during the period. 24.72% of the stock is owned by institutional investors.

Permian Basin Royalty Trust Stock Up 3.3 %

Shares of Permian Basin Royalty Trust stock opened at $23.06 on Friday. The business has a fifty day simple moving average of $21.86 and a 200-day simple moving average of $19.20. Permian Basin Royalty Trust has a 12 month low of $9.87 and a 12 month high of $25.45.

Permian Basin Royalty Trust (NYSE:PBT – Get Rating) last announced its quarterly earnings data on Monday, November 14th. The oil and gas producer reported $0.58 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 12,528.51% and a net margin of 97.85%. The business had revenue of $27.34 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be issued a dividend of $0.0376 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.45 annualized dividend and a dividend yield of 1.96%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Permian Basin Royalty Trust in a research report on Wednesday, October 12th. They issued a “hold” rating for the company.

About Permian Basin Royalty Trust

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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, Devonian, and Waddell fields located in Crane County, Texas.