HighTower Advisors LLC Buys 30,556 Shares of Permian Basin Royalty Trust $PBT

HighTower Advisors LLC grew its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 75.4% during the third quarter, Holdings Channel.com reports. The fund owned 71,093 shares of the oil and gas producer’s stock after purchasing an additional 30,556 shares during the quarter. HighTower Advisors LLC’s holdings in Permian Basin Royalty Trust were worth $1,298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PBT. Horizon Kinetics Asset Management LLC boosted its holdings in Permian Basin Royalty Trust by 41.3% during the second quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer’s stock worth $72,764,000 after purchasing an additional 1,705,498 shares during the last quarter. Moors & Cabot Inc. increased its stake in Permian Basin Royalty Trust by 4.5% in the 2nd quarter. Moors & Cabot Inc. now owns 530,208 shares of the oil and gas producer’s stock valued at $6,606,000 after buying an additional 22,915 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Permian Basin Royalty Trust during the 2nd quarter worth approximately $81,000. Advisory Services Network LLC boosted its stake in shares of Permian Basin Royalty Trust by 327.9% in the 2nd quarter. Advisory Services Network LLC now owns 246,391 shares of the oil and gas producer’s stock worth $3,299,000 after buying an additional 188,807 shares during the last quarter. Finally, Mad River Investors grew its holdings in shares of Permian Basin Royalty Trust by 3.4% in the third quarter. Mad River Investors now owns 922,230 shares of the oil and gas producer’s stock valued at $16,831,000 after acquiring an additional 30,313 shares in the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Up 2.7%

Shares of PBT opened at $20.33 on Tuesday. The stock has a 50 day moving average of $18.43 and a 200 day moving average of $18.02. The company has a market capitalization of $947.58 million, a price-to-earnings ratio of 59.80 and a beta of 0.43. Permian Basin Royalty Trust has a 12 month low of $8.01 and a 12 month high of $20.65.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.0142 per share. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, February 27th. Permian Basin Royalty Trust’s payout ratio is presently 50.00%.

Permian Basin Royalty Trust Company 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.