Mad River Investors lifted its stake in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 91.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 471,693 shares of the oil and gas producer's stock after acquiring an additional 225,400 shares during the quarter. Permian Basin Royalty Trust makes up approximately 2.0% of Mad River Investors' holdings, making the stock its 8th biggest position. Mad River Investors owned about 1.01% of Permian Basin Royalty Trust worth $4,674,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its stake in shares of Permian Basin Royalty Trust by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer's stock valued at $128,000 after acquiring an additional 1,623 shares during the period. JPMorgan Chase & Co. grew its stake in shares of 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 valued at $53,000 after acquiring an additional 2,250 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Permian Basin Royalty Trust by 28.3% during the 4th quarter. Russell Investments Group Ltd. now owns 12,132 shares of the oil and gas producer's stock valued at $134,000 after acquiring an additional 2,679 shares during the period. Welch Group LLC grew its stake in shares of Permian Basin Royalty Trust by 68.3% during the 1st quarter. Welch Group LLC now owns 18,200 shares of the oil and gas producer's stock valued at $180,000 after acquiring an additional 7,384 shares during the period. Finally, GeoWealth Management LLC grew its stake in shares of Permian Basin Royalty Trust by 22.5% during the 4th quarter. GeoWealth Management LLC now owns 49,947 shares of the oil and gas producer's stock valued at $550,000 after acquiring an additional 9,176 shares during the period. 28.86% of the stock is currently owned by institutional investors.
Permian Basin Royalty Trust Price Performance
PBT stock opened at $11.96 on Friday. Permian Basin Royalty Trust has a 1-year low of $8.01 and a 1-year high of $14.26. The company has a market capitalization of $557.46 million, a price-to-earnings ratio of 24.41 and a beta of 0.56. The business has a 50 day simple moving average of $10.66 and a two-hundred day simple moving average of $10.81.
Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. Permian Basin Royalty Trust had a return on equity of 12,661.40% and a net margin of 93.60%. The business had revenue of $3.07 million during the quarter.
Permian Basin Royalty Trust Cuts Dividend
The firm also recently declared a dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $0.013 dividend. The ex-dividend date is Monday, June 30th. This represents a yield of 1.3%. Permian Basin Royalty Trust's payout ratio is 46.94%.
Permian Basin Royalty Trust Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding PBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Permian Basin Royalty Trust (NYSE:PBT - Free Report).
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