Wells Fargo & Company MN Purchases 158,403 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Wells Fargo & Company MN raised its position in Permian Basin Royalty Trust (NYSE:PBT) by 211.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 233,493 shares of the oil and gas producer’s stock after acquiring an additional 158,403 shares during the period. Wells Fargo & Company MN owned about 0.50% of Permian Basin Royalty Trust worth $2,587,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Permian Basin Royalty Trust in the fourth quarter worth $27,000. JPMorgan Chase & Co. lifted its position in Permian Basin Royalty Trust by 88.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 2,250 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Permian Basin Royalty Trust during the 4th quarter worth about $121,000. Atria Wealth Solutions Inc. bought a new position in shares of Permian Basin Royalty Trust in the 4th quarter valued at about $127,000. Finally, Avondale Wealth Management increased its position in shares of Permian Basin Royalty Trust by 100.0% in the fourth quarter. Avondale Wealth Management now owns 19,000 shares of the oil and gas producer’s stock valued at $211,000 after acquiring an additional 9,500 shares during the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

Analyst Ratings Changes

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

Permian Basin Royalty Trust Trading Up 0.7 %

NYSE PBT opened at $9.97 on Friday. The firm has a market capitalization of $464.69 million, a P/E ratio of 12.78 and a beta of 0.58. The firm’s fifty day moving average price is $10.03 and its two-hundred day moving average price is $11.18. 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 posted its quarterly earnings results on Friday, March 14th. The oil and gas producer reported $0.08 EPS for the quarter. The business had revenue of $3.79 million during the quarter. Permian Basin Royalty Trust had a return on equity of 17,811.24% and a net margin of 96.32%.

Permian Basin Royalty Trust Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Thursday, May 1st will be issued a dividend of $0.0196 per share. This represents a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, April 30th. Permian Basin Royalty Trust’s dividend payout ratio is 38.18%.

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.