Capital Analysts LLC Reduces Position in Permian Basin Royalty Trust $PBT

Capital Analysts LLC lessened its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT) by 40.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,563 shares of the oil and gas producer’s stock after selling 23,020 shares during the quarter. Capital Analysts LLC’s holdings in Permian Basin Royalty Trust were worth $865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PBT. Creative Planning lifted its stake in shares of Permian Basin Royalty Trust by 14.5% during the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock valued at $187,000 after buying an additional 1,903 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Permian Basin Royalty Trust by 2,233.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock worth $1,300,000 after buying an additional 99,829 shares during the period. XTX Topco Ltd purchased a new position in Permian Basin Royalty Trust in the 2nd quarter valued at approximately $188,000. NewEdge Advisors LLC grew its stake in Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 1,304 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Permian Basin Royalty Trust by 145.1% during the 2nd quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock valued at $803,000 after acquiring an additional 38,164 shares during the period. Institutional investors own 28.86% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Up 0.5%

PBT stock opened at $35.45 on Friday. The stock has a 50-day simple moving average of $31.19 and a two-hundred day simple moving average of $26.57. Permian Basin Royalty Trust has a twelve month low of $16.25 and a twelve month high of $35.80. The firm has a market capitalization of $1.65 billion, a PE ratio of 101.30 and a beta of 0.50.

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 (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%. The firm had revenue of $4.18 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.0187 dividend. The ex-dividend date is Monday, August 31st. This represents a c) annualized dividend and a yield of 0.6%. Permian Basin Royalty Trust’s dividend payout ratio is currently 62.86%.

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.