LPL Financial LLC Has $4.18 Million Holdings in Permian Basin Royalty Trust (NYSE:PBT)

LPL Financial LLC raised its position in Permian Basin Royalty Trust (NYSE:PBT) by 89.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,759 shares of the oil and gas producer’s stock after buying an additional 79,360 shares during the period. LPL Financial LLC owned 0.36% of Permian Basin Royalty Trust worth $4,182,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new position in shares of Permian Basin Royalty Trust in the third quarter worth about $29,000. Steward Partners Investment Advisory LLC raised its stake in shares of Permian Basin Royalty Trust by 87.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,461 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 681 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Permian Basin Royalty Trust by 78.9% during the second quarter. JPMorgan Chase & Co. now owns 3,400 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 1,500 shares during the last quarter. Signaturefd LLC raised its stake in shares of Permian Basin Royalty Trust by 15.0% during the first quarter. Signaturefd LLC now owns 3,329 shares of the oil and gas producer’s stock worth $81,000 after buying an additional 434 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Permian Basin Royalty Trust during the first quarter worth approximately $132,000. 28.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Permian Basin Royalty Trust in a research note on Thursday, October 5th. They set a “hold” rating for the company.

Permian Basin Royalty Trust Price Performance

PBT opened at $19.02 on Monday. The company has a market cap of $886.52 million, a price-to-earnings ratio of 16.83 and a beta of 0.87. The firm has a 50 day simple moving average of $20.79 and a 200 day simple moving average of $22.85. Permian Basin Royalty Trust has a fifty-two week low of $16.65 and a fifty-two week high of $27.77.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings data on Wednesday, August 9th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $6.10 million during the quarter. Permian Basin Royalty Trust had a net margin of 97.93% and a return on equity of 20,615.65%.

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.0429 per share. The ex-dividend date is Monday, October 30th. This represents a $0.51 dividend on an annualized basis and a yield of 2.70%. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s payout ratio is currently 45.13%.

Permian Basin Royalty Trust Profile

Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian), and Waddell fields located in Crane County, Texas.