Permian Basin Royalty Trust $PBT Stock Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 11.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,971 shares of the oil and gas producer’s stock after selling 25,478 shares during the quarter. SteelPeak Wealth LLC’s holdings in Permian Basin Royalty Trust were worth $5,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PBT. Mad River Investors raised its position in shares of Permian Basin Royalty Trust by 1.7% in the first quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock valued at $21,588,000 after buying an additional 16,321 shares during the last quarter. Sei Investments Co. boosted its position in Permian Basin Royalty Trust by 116.0% during the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after acquiring an additional 226,600 shares during the last quarter. Corient Private Wealth LP boosted its position in Permian Basin Royalty Trust by 10.4% during the second quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer’s stock worth $522,000 after acquiring an additional 1,974 shares during the last quarter. Welch Group LLC boosted its position in Permian Basin Royalty Trust by 8.4% during the first quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer’s stock worth $415,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Post Resch Tallon Group Inc. grew its stake in Permian Basin Royalty Trust by 10.2% in the 3rd quarter. Post Resch Tallon Group Inc. now owns 9,261 shares of the oil and gas producer’s stock worth $292,000 after acquiring an additional 859 shares during the period. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Down 1.8%

NYSE:PBT opened at $33.02 on Friday. The company has a market cap of $1.54 billion, a P/E ratio of 94.35 and a beta of 0.56. Permian Basin Royalty Trust has a fifty-two week low of $16.25 and a fifty-two week high of $37.00. The firm’s 50 day moving average is $33.89 and its two-hundred day moving average is $28.92.

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

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.0196 dividend. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.0187. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.7%. Permian Basin Royalty Trust’s dividend payout ratio is 68.57%.

Analysts Set New Price Targets

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 presently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust (NYSE:PBT) is a grantor trust that owns royalty and net profits interests in oil and natural gas properties located primarily in the Permian Basin of West Texas. The trust does not operate wells or provide products and services directly; instead, it receives proceeds generated by the underlying properties and distributes the resulting income to its unitholders.

The trust’s interests include properties associated with the Waddell Ranch and other Texas royalty assets.