Permian Basin Royalty Trust $PBT Holdings Increased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 28.3% during the third quarter, Holdings Channel reports. The firm owned 544,214 shares of the oil and gas producer’s stock after buying an additional 119,985 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Permian Basin Royalty Trust were worth $17,132,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PBT. CX Institutional boosted its stake in shares of Permian Basin Royalty Trust by 80.3% during the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 939 shares in the last quarter. NewEdge Advisors LLC raised its stake in Permian Basin Royalty Trust by 25.1% in the second quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock worth $87,000 after buying an additional 701 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Permian Basin Royalty Trust in the second quarter worth about $114,000. Post Resch Tallon Group Inc. purchased a new stake in Permian Basin Royalty Trust in the second quarter worth about $210,000. Finally, Tidal Investments LLC bought a new stake in Permian Basin Royalty Trust during the 2nd quarter valued at approximately $211,000. 28.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Permian Basin Royalty Trust Trading Up 2.5%

Shares of PBT stock opened at $30.94 on Wednesday. Permian Basin Royalty Trust has a 12 month low of $16.25 and a 12 month high of $37.00. The stock has a market cap of $1.44 billion, a PE ratio of 110.50 and a beta of 0.39. The company’s fifty day moving average price is $33.21 and its 200-day moving average price is $27.14.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings results on Monday, November 9th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $4.98 million during the quarter. Permian Basin Royalty Trust had a net margin of 85.87% and a return on equity of 8,115.81%.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be given a dividend of $0.0452 per share. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.54 dividend on an annualized basis and a yield of 1.8%. Permian Basin Royalty Trust’s dividend payout ratio is 154.29%.

Permian Basin Royalty Trust Profile

Permian Basin Royalty Trust is a Texas-based express trust that owns royalty and net profits interests in oil and natural gas properties. It does not operate wells; instead, it receives proceeds from production after applicable costs and distributes available amounts to its unitholders. The trust’s interests include properties in the Permian Basin of West Texas, including the Waddell Ranch properties and other Texas royalty interests. Production and operating activities are carried out by the operators of those properties.