Commonwealth Equity Services LLC lessened its position in shares of Permian Basin Royalty Trust (NYSE:PBT – Free Report) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 259,314 shares of the oil and gas producer’s stock after selling 31,263 shares during the period. Commonwealth Equity Services LLC owned 0.56% of Permian Basin Royalty Trust worth $4,403,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Horizon Kinetics Asset Management LLC lifted its stake in shares of Permian Basin Royalty Trust by 1.5% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock valued at $105,069,000 after purchasing an additional 88,751 shares during the period. State of Wyoming lifted its stake in shares of Permian Basin Royalty Trust by 34.6% in the 4th quarter. State of Wyoming now owns 44,257 shares of the oil and gas producer’s stock valued at $751,000 after purchasing an additional 11,383 shares during the period. Lido Advisors LLC lifted its stake in shares of Permian Basin Royalty Trust by 3.5% in the 4th quarter. Lido Advisors LLC now owns 122,523 shares of the oil and gas producer’s stock valued at $2,244,000 after purchasing an additional 4,182 shares during the period. Moors & Cabot Inc. lifted its stake in shares of Permian Basin Royalty Trust by 10.5% in the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock valued at $9,946,000 after purchasing an additional 55,456 shares during the period. Finally, Mad River Investors lifted its stake in shares of Permian Basin Royalty Trust by 7.0% in the 4th quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock valued at $16,756,000 after purchasing an additional 64,589 shares during the period. 28.86% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Permian Basin Royalty Trust currently has a consensus rating of “Hold”.
Permian Basin Royalty Trust Stock Down 0.1%
Shares of NYSE:PBT opened at $28.44 on Monday. Permian Basin Royalty Trust has a twelve month low of $11.00 and a twelve month high of $32.25. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 88.89 and a beta of 0.48. The stock’s 50 day moving average is $24.86 and its 200-day moving average is $20.87.
Permian Basin Royalty Trust (NYSE:PBT – Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The firm had revenue of $3.57 million for the quarter.
Permian Basin Royalty Trust Cuts Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.0204 per share. The ex-dividend date is Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 0.9%. Permian Basin Royalty Trust’s payout ratio is 75.00%.
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.
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