Access Investment Management LLC Acquires New Holdings in Permian Basin Royalty Trust $PBT

Access Investment Management LLC bought a new position in shares of Permian Basin Royalty Trust (NYSE:PBT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,178 shares of the oil and gas producer’s stock, valued at approximately $64,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PBT. Clark Asset Management LLC bought a new position in shares of Permian Basin Royalty Trust during the second quarter valued at $124,000. Kapitalo Investimentos Ltda bought a new position in Permian Basin Royalty Trust during the 2nd quarter worth $147,000. Pekin Hardy Strauss Inc. lifted its holdings in Permian Basin Royalty Trust by 19.2% during the 1st quarter. Pekin Hardy Strauss Inc. now owns 15,500 shares of the oil and gas producer’s stock worth $154,000 after buying an additional 2,500 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Permian Basin Royalty Trust by 90.3% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 20,270 shares of the oil and gas producer’s stock valued at $253,000 after buying an additional 9,620 shares during the last quarter. Finally, Financial Sense Advisors Inc. grew its position in shares of Permian Basin Royalty Trust by 25.0% in the 1st quarter. Financial Sense Advisors Inc. now owns 25,000 shares of the oil and gas producer’s stock valued at $248,000 after buying an additional 5,000 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Stock Performance

Permian Basin Royalty Trust stock opened at $18.46 on Monday. The stock has a market capitalization of $860.45 million, a price-to-earnings ratio of 51.28 and a beta of 0.63. Permian Basin Royalty Trust has a 52-week low of $8.01 and a 52-week high of $19.52. The stock’s 50 day moving average price is $17.75 and its two-hundred day moving average price is $14.17.

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

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a dividend of $0.02 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, October 31st. Permian Basin Royalty Trust’s dividend payout ratio is 66.67%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Permian Basin Royalty Trust 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.