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

Sei Investments Co. lifted its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 116.0% in the first quarter, Holdings Channel reports. The institutional investor owned 422,000 shares of the oil and gas producer’s stock after acquiring an additional 226,600 shares during the period. Sei Investments Co.’s holdings in Permian Basin Royalty Trust were worth $9,081,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Kestra Advisory Services LLC acquired a new position in shares of Permian Basin Royalty Trust in the fourth quarter valued at about $28,000. NewEdge Advisors LLC increased its position in Permian Basin Royalty Trust by 53.1% during the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 1,304 shares during the period. Royal Bank of Canada raised its stake in Permian Basin Royalty Trust by 6.0% in the 4th quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock worth $166,000 after purchasing an additional 558 shares in the last quarter. Walleye Capital LLC acquired a new stake in Permian Basin Royalty Trust in the 4th quarter worth about $211,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in Permian Basin Royalty Trust in the 4th quarter valued at about $211,000. Institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Price Performance

NYSE PBT opened at $29.57 on Friday. The business has a fifty day moving average price of $27.47 and a two-hundred day moving average price of $23.48. Permian Basin Royalty Trust has a fifty-two week low of $12.95 and a fifty-two week high of $32.25. The stock has a market capitalization of $1.38 billion, a PE ratio of 92.39 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, 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 9,061.81% and a net margin of 88.99%.The firm had revenue of $3.57 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.0436 dividend. This represents a c) annualized dividend and a yield of 1.8%. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Friday, July 31st. Permian Basin Royalty Trust’s payout ratio is 93.75%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded 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 investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Permian Basin Royalty Trust currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Company 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.