Moors & Cabot Inc. Has $9.95 Million Stock Position in Permian Basin Royalty Trust $PBT

Moors & Cabot Inc. increased its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 585,746 shares of the oil and gas producer’s stock after buying an additional 55,456 shares during the quarter. Moors & Cabot Inc. owned about 1.26% of Permian Basin Royalty Trust worth $9,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PBT. SoftVest Advisors LLC lifted its stake in shares of Permian Basin Royalty Trust by 40.1% in the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock valued at $77,335,000 after buying an additional 1,776,929 shares in the last quarter. Mad River Investors raised its holdings in shares of Permian Basin Royalty Trust by 7.0% in the 4th quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock worth $16,756,000 after acquiring an additional 64,589 shares during the last quarter. Hosking Partners LLP lifted its position in Permian Basin Royalty Trust by 12.8% in the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock valued at $5,887,000 after acquiring an additional 39,230 shares in the last quarter. UBS Group AG boosted its stake in Permian Basin Royalty Trust by 170.1% during the 3rd quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock valued at $2,693,000 after purchasing an additional 92,936 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Permian Basin Royalty Trust by 2,233.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock worth $1,300,000 after purchasing an additional 99,829 shares in the last quarter. Institutional investors own 28.86% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Up 6.3%

Shares of PBT stock opened at $29.59 on Friday. Permian Basin Royalty Trust has a fifty-two week low of $10.80 and a fifty-two week high of $32.25. The firm’s 50 day moving average price is $23.96 and its two-hundred day moving average price is $20.48. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 92.47 and a beta of 0.42.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. The firm had revenue of $3.57 million during 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 company also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given 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 0.8%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 143.75%.

Permian Basin Royalty Trust Profile

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.