Wells Fargo & Company MN Increases Stock Holdings in Permian Basin Royalty Trust (NYSE:PBT)

Wells Fargo & Company MN raised its position in Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 211.0% in the 4th quarter, according to its most recent filing with the SEC. The firm 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 approximately 0.50% of Permian Basin Royalty Trust worth $2,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PBT. Avondale Wealth Management lifted its position in 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 purchasing an additional 9,500 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at approximately $121,000. Golden State Wealth Management LLC purchased a new stake in shares of Permian Basin Royalty Trust in the fourth quarter valued at approximately $27,000. Atlas Wealth Partners LLC grew its holdings in Permian Basin Royalty Trust by 4.0% during the fourth quarter. Atlas Wealth Partners LLC now owns 66,098 shares of the oil and gas producer's stock worth $730,000 after acquiring an additional 2,542 shares during the period. Finally, Atria Wealth Solutions Inc. purchased a new position in Permian Basin Royalty Trust in the fourth quarter worth $127,000. Hedge funds and other institutional investors own 28.86% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Permian Basin Royalty Trust from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th.

Permian Basin Royalty Trust Price Performance

Permian Basin Royalty Trust stock traded down $0.20 during mid-day trading on Wednesday, reaching $9.79. The company had a trading volume of 53,937 shares, compared to its average volume of 126,257. The company has a market capitalization of $456.30 million, a P/E ratio of 12.55 and a beta of 0.58. The stock's 50-day simple moving average is $9.91 and its 200-day simple moving average is $11.13. 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 - Get Free Report) last announced its earnings results on Friday, March 14th. The oil and gas producer reported $0.08 EPS for the quarter. The firm had revenue of $3.79 million for 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 Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Thursday, May 1st will be issued a dividend of $0.0196 per share. The ex-dividend date is Wednesday, April 30th. This represents a dividend yield of 2.35%. Permian Basin Royalty Trust's dividend payout ratio (DPR) is presently 41.82%.

Permian Basin Royalty Trust Profile

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.