OFI Invest Asset Management Purchases New Shares in Permian Basin Royalty Trust (NYSE:PBT)

OFI Invest Asset Management purchased a new stake in shares of Permian Basin Royalty Trust (NYSE:PBT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 124,017 shares of the oil and gas producer’s stock, valued at approximately $1,327,000. OFI Invest Asset Management owned approximately 0.27% of Permian Basin Royalty Trust at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. EagleClaw Capital Managment LLC boosted its holdings in shares of Permian Basin Royalty Trust by 2.3% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock valued at $492,000 after buying an additional 925 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Permian Basin Royalty Trust in the 4th quarter valued at about $27,000. Atlas Wealth Partners LLC boosted its holdings in shares of Permian Basin Royalty Trust by 4.0% in the 4th quarter. Atlas Wealth Partners LLC now owns 66,098 shares of the oil and gas producer’s stock valued at $730,000 after buying an additional 2,542 shares during the period. Access Investment Management LLC acquired a new position in shares of Permian Basin Royalty Trust in the 3rd quarter valued at about $97,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Permian Basin Royalty Trust by 45.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,467 shares of the oil and gas producer’s stock valued at $326,000 after buying an additional 9,179 shares during the period. 28.86% of the stock is owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Stock Up 4.0 %

Shares of NYSE:PBT opened at $10.06 on Monday. The company has a market cap of $468.70 million, a PE ratio of 12.89 and a beta of 0.72. The company’s 50-day moving average price is $11.14 and its 200 day moving average price is $11.57. Permian Basin Royalty Trust has a fifty-two week low of $9.43 and a fifty-two week high of $14.58.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.0171 per share. The ex-dividend date is Friday, February 28th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 2.04%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 25.64%.

Analyst Upgrades and Downgrades

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

Permian Basin Royalty Trust Company 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.