18,100 Shares of Permian Basin Royalty Trust $PBT Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. acquired a new stake in Permian Basin Royalty Trust (NYSE:PBT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,100 shares of the oil and gas producer’s stock, valued at approximately $570,000.

Several other large investors have also recently added to or reduced their stakes in PBT. Commonwealth Equity Services LLC lifted its holdings in shares of Permian Basin Royalty Trust by 28.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 544,214 shares of the oil and gas producer’s stock worth $17,132,000 after acquiring an additional 119,985 shares during the period. State of Wyoming increased its position in Permian Basin Royalty Trust by 537.0% during the 3rd quarter. State of Wyoming now owns 24,530 shares of the oil and gas producer’s stock worth $772,000 after purchasing an additional 20,679 shares in the last quarter. Mad River Investors increased its position in shares of Permian Basin Royalty Trust by 5.1% in the third quarter. Mad River Investors now owns 1,056,366 shares of the oil and gas producer’s stock worth $33,254,000 after acquiring an additional 51,214 shares in the last quarter. Post Resch Tallon Group Inc. raised its position in Permian Basin Royalty Trust by 10.2% in the third quarter. Post Resch Tallon Group Inc. now owns 9,261 shares of the oil and gas producer’s stock valued at $292,000 after purchasing an additional 859 shares during the period. Finally, CX Institutional raised its holdings in shares of Permian Basin Royalty Trust by 31.5% during the 3rd quarter. CX Institutional now owns 2,773 shares of the oil and gas producer’s stock valued at $87,000 after buying an additional 664 shares during the period. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Up 1.8%

Shares of NYSE:PBT opened at $29.00 on Friday. The company has a market cap of $1.35 billion, a PE ratio of 82.86 and a beta of 0.39. Permian Basin Royalty Trust has a fifty-two week low of $16.25 and a fifty-two week high of $37.00. The firm has a 50-day simple moving average of $33.34 and a 200 day simple moving average of $27.03.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $4.18 million for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.0452 per share. This represents a $0.54 annualized dividend and a dividend yield of 1.9%. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. The ex-dividend date of this dividend is Friday, October 30th. Permian Basin Royalty Trust’s dividend payout ratio is presently 154.29%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company has an average rating of “Hold”.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not explore for, develop, or operate properties itself. Instead, it receives proceeds generated from the production and sale of hydrocarbons from properties in which it owns royalty or net profits interests.

The trust’s principal interests include properties associated with the Waddell Ranch in Texas, as well as additional Texas royalty properties.