Sei Investments Co. Buys 226,600 Shares of Permian Basin Royalty Trust $PBT

Key Points

• Sei Investments increased its Permian Basin Royalty Trust stake by 116% in the first quarter, buying 226,600 shares to own 422,000 shares, or 0.91% of the trust. Institutional investors collectively hold 28.86% of PBT.
• Weiss Ratings upgraded PBT from “sell” to “hold,” while the broader analyst consensus remains Hold. Shares opened at $29.57, with a 52-week range of $12.95 to $32.25.
• Permian Basin Royalty Trust raised its monthly dividend to $0.0436 per share, up from $0.02, payable August 14 to shareholders of record July 31. The indicated dividend yield is 1.8%, with a payout ratio of 93.75%.

Sei Investments Co. boosted its stake in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 116.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 422,000 shares of the oil and gas producer's stock after purchasing an additional 226,600 shares during the period. Sei Investments Co. owned 0.91% of Permian Basin Royalty Trust worth $9,081,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PBT. Kestra Advisory Services LLC acquired a new position in shares of Permian Basin Royalty Trust during the 4th quarter worth approximately $28,000. NewEdge Advisors LLC boosted 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 last quarter. Royal Bank of Canada grew its stake in shares of 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 valued at $166,000 after buying an additional 558 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Permian Basin Royalty Trust in the fourth quarter valued at $211,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in Permian Basin Royalty Trust during the fourth quarter worth $211,000. 28.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Permian Basin Royalty Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Permian Basin Royalty Trust presently has an average rating of "Hold".

Permian Basin Royalty Trust Stock Performance

NYSE PBT opened at $29.57 on Friday. The stock has a market cap of $1.38 billion, a PE ratio of 92.39 and a beta of 0.48. The firm has a 50-day moving average of $27.47 and a 200-day moving average of $23.48. Permian Basin Royalty Trust has a 52-week low of $12.95 and a 52-week high of $32.25.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. The business had revenue of $3.57 million for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%.

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 14th. Stockholders 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 is a positive change from Permian Basin Royalty Trust's previous monthly dividend of $0.02. This represents a c) annualized dividend and a dividend yield of 1.8%. Permian Basin Royalty Trust's dividend payout ratio (DPR) is currently 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.

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