Clark Asset Management LLC Takes $124,000 Position in Permian Basin Royalty Trust $PBT

Clark Asset Management LLC acquired a new stake in shares of Permian Basin Royalty Trust (NYSE:PBT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the oil and gas producer’s stock, valued at approximately $124,000.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its position in Permian Basin Royalty Trust by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 2,446 shares during the last quarter. Sunbelt Securities Inc. increased its position in Permian Basin Royalty Trust by 7,352.9% in the first quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 6,250 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in Permian Basin Royalty Trust in the second quarter worth $147,000. Pekin Hardy Strauss Inc. increased its position in Permian Basin Royalty Trust by 19.2% in the first quarter. Pekin Hardy Strauss Inc. now owns 15,500 shares of the oil and gas producer’s stock worth $154,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Permian Basin Royalty Trust by 90.3% in the second quarter. Stratos Wealth Partners LTD. now owns 20,270 shares of the oil and gas producer’s stock worth $253,000 after purchasing an additional 9,620 shares during the last quarter. Institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Down 0.7%

PBT stock opened at $17.99 on Wednesday. Permian Basin Royalty Trust has a twelve month low of $8.01 and a twelve month high of $19.52. The stock has a market capitalization of $838.33 million, a price-to-earnings ratio of 49.96 and a beta of 0.63. The firm’s fifty day simple moving average is $17.61 and its two-hundred day simple moving average is $13.95.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings data on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%. The business had revenue of $3.11 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be given a dividend of $0.02 per share. The ex-dividend date is Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 1.3%. Permian Basin Royalty Trust’s payout ratio is 386.11%.

Wall Street Analyst Weigh In

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

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.