OFI Invest Asset Management Makes New Investment in Permian Basin Royalty Trust (NYSE:PBT)

OFI Invest Asset Management acquired a new position in Permian Basin Royalty Trust (NYSE:PBT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 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 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in PBT. Access Investment Management LLC bought a new position in shares of Permian Basin Royalty Trust in the 3rd quarter worth $97,000. Apollon Wealth Management LLC bought a new position in Permian Basin Royalty Trust in the third quarter valued at $180,000. Prospera Private Wealth LLC purchased a new stake in Permian Basin Royalty Trust during the third quarter valued at about $110,000. EagleClaw Capital Managment LLC lifted its stake in Permian Basin Royalty Trust by 2.3% during the third quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer's stock worth $492,000 after purchasing an additional 925 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its stake in Permian Basin Royalty Trust by 16.3% during the third quarter. Moors & Cabot Inc. now owns 535,151 shares of the oil and gas producer's stock worth $6,363,000 after purchasing an additional 75,064 shares during the last quarter. Institutional investors own 28.86% of the company's stock.

Permian Basin Royalty Trust Stock Down 2.8 %

Shares of NYSE:PBT traded down $0.29 during trading on Thursday, hitting $9.82. The stock had a trading volume of 81,890 shares, compared to its average volume of 124,316. The company has a market capitalization of $457.47 million, a PE ratio of 12.58 and a beta of 0.72. The firm's fifty day moving average is $11.08 and its 200 day moving average is $11.55. Permian Basin Royalty Trust has a 12 month low of $9.43 and a 12 month high of $14.58.

Remove Ads

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.0171 per share. This represents a $0.21 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, February 28th. Permian Basin Royalty Trust's payout ratio is 25.64%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Permian Basin Royalty Trust from a "buy" rating to a "hold" rating in a research note 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.