Sunbelt Securities Inc. bought a new position in shares of Permian Basin Royalty Trust (NYSE:PBT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,065 shares of the oil and gas producer’s stock, valued at approximately $52,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC purchased a new stake in Permian Basin Royalty Trust in the second quarter valued at approximately $2,040,000. Renaissance Technologies LLC boosted its holdings in shares of Permian Basin Royalty Trust by 268.1% in the 2nd quarter. Renaissance Technologies LLC now owns 92,401 shares of the oil and gas producer’s stock valued at $563,000 after acquiring an additional 67,300 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Permian Basin Royalty Trust by 48.1% in the 2nd quarter. Morgan Stanley now owns 94,452 shares of the oil and gas producer’s stock valued at $575,000 after acquiring an additional 30,681 shares during the last quarter. Eaton Vance Management increased its stake in shares of Permian Basin Royalty Trust by 116.4% in the second quarter. Eaton Vance Management now owns 40,900 shares of the oil and gas producer’s stock worth $249,000 after acquiring an additional 22,000 shares during the period. Finally, LPL Financial LLC acquired a new stake in shares of Permian Basin Royalty Trust in the second quarter worth $76,000. 9.55% of the stock is owned by hedge funds and other institutional investors.
Shares of Permian Basin Royalty Trust stock opened at $3.71 on Tuesday. The stock has a market cap of $179.92 million, a PE ratio of 7.79 and a beta of 0.79. The firm has a fifty day moving average price of $3.95 and a 200 day moving average price of $5.00. Permian Basin Royalty Trust has a 1 year low of $3.52 and a 1 year high of $8.50.
The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.039 dividend. This represents a $0.47 annualized dividend and a yield of 12.61%. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, November 27th.
Permian Basin Royalty Trust Company Profile
Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, University-Waddell, and Waddell fields located in Crane County, Texas.
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