Golden State Wealth Management LLC Raises Stock Holdings in Permian Basin Royalty Trust (NYSE:PBT)

Golden State Wealth Management LLC grew its holdings in Permian Basin Royalty Trust (NYSE:PBT) by 100.0% in the first quarter, Holdings Channel reports. The institutional investor owned 4,892 shares of the oil and gas producer’s stock after acquiring an additional 2,446 shares during the quarter. Golden State Wealth Management LLC’s holdings in Permian Basin Royalty Trust were worth $48,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Permian Basin Royalty Trust by 88.9% in 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. Ameriprise Financial Inc. raised its position in Permian Basin Royalty Trust by 16.1% during the fourth quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer’s stock worth $128,000 after acquiring an additional 1,623 shares during the period. Russell Investments Group Ltd. lifted its holdings in Permian Basin Royalty Trust by 28.3% during the fourth quarter. Russell Investments Group Ltd. now owns 12,132 shares of the oil and gas producer’s stock valued at $134,000 after purchasing an additional 2,679 shares in the last quarter. Welch Group LLC lifted its holdings in Permian Basin Royalty Trust by 68.3% during the first quarter. Welch Group LLC now owns 18,200 shares of the oil and gas producer’s stock valued at $180,000 after purchasing an additional 7,384 shares in the last quarter. Finally, Napatree Capital LLC acquired a new stake in shares of Permian Basin Royalty Trust in the fourth quarter valued at about $249,000. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Up 1.2%

PBT opened at $12.61 on Wednesday. The company has a market cap of $587.94 million, a PE ratio of 25.74 and a beta of 0.58. Permian Basin Royalty Trust has a twelve month low of $8.01 and a twelve month high of $14.26. The company has a 50-day moving average price of $11.03 and a 200 day moving average price of $10.79.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $3.07 million during the quarter. Permian Basin Royalty Trust had a return on equity of 12,661.40% and a net margin of 93.60%.

Permian Basin Royalty Trust Cuts Dividend

The company also recently declared a dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.013 per share. The ex-dividend date is Monday, June 30th. This represents a dividend yield of 1.3%. Permian Basin Royalty Trust’s dividend payout ratio is currently 32.65%.

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.