Permian Basin Royalty Trust (NYSE:PBT) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its holdings in Permian Basin Royalty Trust (NYSE:PBT) by 46.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,528 shares of the oil and gas producer’s stock after selling 9,890 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Permian Basin Royalty Trust were worth $127,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Permian Basin Royalty Trust by 88.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 2,250 shares during the period. Atria Wealth Solutions Inc. acquired a new position in shares of Permian Basin Royalty Trust during the fourth quarter valued at $127,000. Ameriprise Financial Inc. boosted its holdings in shares of Permian Basin Royalty Trust by 16.1% during the fourth quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer’s stock valued at $128,000 after acquiring an additional 1,623 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Permian Basin Royalty Trust by 28.3% during the fourth quarter. Russell Investments Group Ltd. now owns 12,132 shares of the oil and gas producer’s stock valued at $134,000 after acquiring an additional 2,679 shares during the period. Finally, Napatree Capital LLC acquired a new position in shares of Permian Basin Royalty Trust during the fourth quarter valued at $249,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Performance

Shares of PBT opened at $12.08 on Wednesday. Permian Basin Royalty Trust has a 1 year low of $8.01 and a 1 year high of $14.26. The firm has a fifty day moving average of $10.51 and a 200-day moving average of $10.83. The company has a market cap of $563.05 million, a price-to-earnings ratio of 24.65 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings data on Wednesday, May 14th. The oil and gas producer reported $0.06 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 93.60% and a return on equity of 12,661.40%. The business had revenue of $3.07 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a dividend of $0.0188 per share. This represents a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, May 30th. Permian Basin Royalty Trust’s dividend payout ratio is currently 46.94%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a report on Thursday, February 20th.

About Permian Basin Royalty Trust

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