22,645 Shares in Permian Basin Royalty Trust (NYSE:PBT) Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. bought a new stake in Permian Basin Royalty Trust (NYSE:PBT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 22,645 shares of the oil and gas producer’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of Permian Basin Royalty Trust during the fourth quarter valued at approximately $27,000. JPMorgan Chase & Co. lifted its stake in shares of Permian Basin Royalty Trust by 88.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 2,250 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in shares of Permian Basin Royalty Trust during the fourth quarter worth $121,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Permian Basin Royalty Trust in the fourth quarter valued at $127,000. Finally, Flow Traders U.S. LLC acquired a new position in Permian Basin Royalty Trust in the third quarter valued at $167,000. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Performance

Permian Basin Royalty Trust stock opened at $9.89 on Tuesday. The company has a market cap of $460.96 million, a price-to-earnings ratio of 12.68 and a beta of 0.72. Permian Basin Royalty Trust has a 1 year low of $9.43 and a 1 year high of $14.26. The firm has a 50 day moving average price of $10.65 and a 200 day moving average price of $11.46.

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

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be paid a $0.018 dividend. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a $0.22 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, March 31st. Permian Basin Royalty Trust’s payout ratio is currently 38.18%.

Analysts Set New Price Targets

Separately, StockNews.com lowered 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.