Pekin Hardy Strauss Inc. Grows Stock Holdings in Permian Basin Royalty Trust (NYSE:PBT)

Pekin Hardy Strauss Inc. increased its position in Permian Basin Royalty Trust (NYSE:PBT) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,500 shares of the oil and gas producer’s stock after purchasing an additional 2,500 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Permian Basin Royalty Trust were worth $154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PBT. Lazard Asset Management LLC acquired a new position in Permian Basin Royalty Trust in the 4th quarter valued at approximately $623,000. Commonwealth Equity Services LLC lifted its stake in shares of Permian Basin Royalty Trust by 87.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 220,527 shares of the oil and gas producer’s stock valued at $2,443,000 after acquiring an additional 102,568 shares during the period. Horizon Kinetics Asset Management LLC raised its position in shares of Permian Basin Royalty Trust by 7.1% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 3,946,083 shares of the oil and gas producer’s stock valued at $43,723,000 after acquiring an additional 261,819 shares during the period. Jane Street Group LLC acquired a new stake in shares of Permian Basin Royalty Trust during the fourth quarter worth $475,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Permian Basin Royalty Trust by 45.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,467 shares of the oil and gas producer’s stock worth $326,000 after purchasing an additional 9,179 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Trading Up 1.0%

NYSE PBT opened at $13.46 on Wednesday. The firm has a market capitalization of $627.37 million, a P/E ratio of 27.47 and a beta of 0.58. The business has a fifty day simple moving average of $11.35 and a 200 day simple moving average of $10.84. Permian Basin Royalty Trust has a 12 month low of $8.01 and a 12 month high of $14.26.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Wednesday, 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 93.60% and a return on equity of 12,661.40%. The company had revenue of $3.07 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.013 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 30th. Permian Basin Royalty Trust’s payout ratio is 32.65%.

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.