Commonwealth Equity Services LLC Sells 31,263 Shares of Permian Basin Royalty Trust $PBT

Commonwealth Equity Services LLC lowered its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,314 shares of the oil and gas producer’s stock after selling 31,263 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Permian Basin Royalty Trust were worth $4,403,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Permian Basin Royalty Trust in the third quarter valued at about $40,000. NewEdge Advisors LLC raised its holdings in shares of Permian Basin Royalty Trust by 53.1% in the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 1,304 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of Permian Basin Royalty Trust in the fourth quarter valued at about $211,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Permian Basin Royalty Trust by 13.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,016 shares of the oil and gas producer’s stock valued at $222,000 after purchasing an additional 1,574 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Permian Basin Royalty Trust by 27.0% in the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock valued at $162,000 after purchasing an additional 2,769 shares during the last quarter. Institutional investors own 28.86% of the company’s stock.

Analyst Ratings Changes

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

Permian Basin Royalty Trust Stock Down 0.1%

NYSE PBT opened at $28.44 on Monday. The company has a market cap of $1.33 billion, a PE ratio of 88.89 and a beta of 0.48. Permian Basin Royalty Trust has a 52 week low of $11.00 and a 52 week high of $32.25. The firm’s 50-day simple moving average is $24.86 and its two-hundred day simple moving average is $20.87.

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

Permian Basin Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $0.0204 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a yield of 0.9%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 75.00%.

About Permian Basin Royalty Trust

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.