Permian Basin Royalty Trust $PBT Stock: SteelPeak Wealth LLC Decreases Position

SteelPeak Wealth LLC decreased its position in Permian Basin Royalty Trust (NYSE:PBT) by 11.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 187,971 shares of the oil and gas producer’s stock after selling 25,478 shares during the period. SteelPeak Wealth LLC owned about 0.40% of Permian Basin Royalty Trust worth $5,921,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PBT. CX Institutional raised its stake in shares of Permian Basin Royalty Trust by 80.3% during the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 939 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Permian Basin Royalty Trust by 25.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock worth $87,000 after buying an additional 701 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at about $114,000. Post Resch Tallon Group Inc. acquired a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at about $210,000. Finally, Tidal Investments LLC acquired a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at about $211,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Performance

PBT stock opened at $33.02 on Friday. Permian Basin Royalty Trust has a 1 year low of $16.25 and a 1 year high of $37.00. The stock’s 50 day moving average price is $33.89 and its 200 day moving average price is $28.92. The firm 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 (NYSE:PBT) last announced its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%. The firm had revenue of $4.18 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

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

About Permian Basin Royalty Trust

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.