Moors & Cabot Inc. Grows Holdings in Permian Basin Royalty Trust $PBT

Moors & Cabot Inc. lifted its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 585,746 shares of the oil and gas producer’s stock after buying an additional 55,456 shares during the quarter. Moors & Cabot Inc.’s holdings in Permian Basin Royalty Trust were worth $9,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mad River Investors grew its holdings in Permian Basin Royalty Trust by 7.0% during the 4th quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock worth $16,756,000 after acquiring an additional 64,589 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Permian Basin Royalty Trust by 0.8% in the 4th quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer’s stock valued at $1,217,000 after purchasing an additional 604 shares in the last quarter. Hosking Partners LLP lifted its position in shares of Permian Basin Royalty Trust by 12.8% during the fourth quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock worth $5,887,000 after purchasing an additional 39,230 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Permian Basin Royalty Trust in the fourth quarter worth about $211,000. Finally, MOR Wealth Management LLC acquired a new position in Permian Basin Royalty Trust in the fourth quarter worth about $892,000. Institutional investors own 28.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Permian Basin Royalty Trust Stock Up 6.3%

Shares of NYSE:PBT opened at $29.59 on Friday. The company has a market cap of $1.38 billion, a PE ratio of 92.47 and a beta of 0.42. Permian Basin Royalty Trust has a fifty-two week low of $10.80 and a fifty-two week high of $32.25. The firm has a 50-day simple moving average of $23.96 and a 200 day simple moving average of $20.48.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. The company had revenue of $3.57 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a $0.0204 dividend. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, May 29th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 143.75%.

Permian Basin Royalty Trust 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.