Wells Fargo & Company MN Has $2.59 Million Holdings in Permian Basin Royalty Trust (NYSE:PBT)

Wells Fargo & Company MN grew its position in Permian Basin Royalty Trust (NYSE:PBT) by 211.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 233,493 shares of the oil and gas producer’s stock after purchasing an additional 158,403 shares during the quarter. Wells Fargo & Company MN’s holdings in Permian Basin Royalty Trust were worth $2,587,000 as of its most recent SEC filing.

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

Permian Basin Royalty Trust Stock Performance

PBT opened at $9.97 on Friday. The firm has a market cap of $464.69 million, a P/E ratio of 12.78 and a beta of 0.58. The business’s fifty day moving average is $10.03 and its 200-day moving average is $11.18. Permian Basin Royalty Trust has a 52-week low of $8.01 and a 52-week high of $14.26.

Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Friday, March 14th. The oil and gas producer reported $0.08 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%. The firm had revenue of $3.79 million for the quarter.

Permian Basin Royalty Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.