Permian Basin Royalty Trust $PBT Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. raised its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 4.5% in the second quarter, Holdings Channel.com reports. The fund owned 530,208 shares of the oil and gas producer’s stock after purchasing an additional 22,915 shares during the period. Moors & Cabot Inc.’s holdings in Permian Basin Royalty Trust were worth $6,606,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Access Investment Management LLC acquired a new stake in shares of Permian Basin Royalty Trust during the second quarter valued at about $64,000. Clark Asset Management LLC acquired a new stake in shares of Permian Basin Royalty Trust during the second quarter worth about $124,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Permian Basin Royalty Trust during the second quarter worth about $147,000. Pekin Hardy Strauss Inc. lifted its position in shares of Permian Basin Royalty Trust by 19.2% during the first quarter. Pekin Hardy Strauss Inc. now owns 15,500 shares of the oil and gas producer’s stock worth $154,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Financial Sense Advisors Inc. lifted its position in shares of Permian Basin Royalty Trust by 25.0% during the first quarter. Financial Sense Advisors Inc. now owns 25,000 shares of the oil and gas producer’s stock worth $248,000 after purchasing an additional 5,000 shares in the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Permian Basin Royalty Trust currently has an average rating of “Hold”.

Permian Basin Royalty Trust Stock Down 2.2%

Shares of Permian Basin Royalty Trust stock opened at $18.35 on Wednesday. The company has a market capitalization of $855.28 million, a P/E ratio of 50.97 and a beta of 0.63. Permian Basin Royalty Trust has a 52-week low of $8.01 and a 52-week high of $19.52. The company has a 50 day moving average of $17.83 and a 200 day moving average of $14.29.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings data on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share for the quarter. The business had revenue of $3.11 million during the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a dividend of $0.02 per share. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, October 31st. Permian Basin Royalty Trust’s payout ratio is currently 66.67%.

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.