Cambridge Investment Research Advisors Inc. Sells 8,745 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Cambridge Investment Research Advisors Inc. trimmed its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 42.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,980 shares of the oil and gas producer’s stock after selling 8,745 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Permian Basin Royalty Trust were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ameriprise Financial Inc. raised its holdings in Permian Basin Royalty Trust by 16.1% in the 4th quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer’s stock worth $128,000 after purchasing an additional 1,623 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Permian Basin Royalty Trust by 88.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 2,250 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Permian Basin Royalty Trust by 28.3% during the 4th 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 in the last quarter. Welch Group LLC boosted its position in Permian Basin Royalty Trust by 68.3% during the 1st quarter. Welch Group LLC now owns 18,200 shares of the oil and gas producer’s stock valued at $180,000 after acquiring an additional 7,384 shares in the last quarter. Finally, GeoWealth Management LLC boosted its position in Permian Basin Royalty Trust by 22.5% during the 4th quarter. GeoWealth Management LLC now owns 49,947 shares of the oil and gas producer’s stock valued at $550,000 after acquiring an additional 9,176 shares in the last quarter. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Trading Down 1.0%

Shares of PBT stock opened at $12.83 on Tuesday. Permian Basin Royalty Trust has a 12 month low of $8.01 and a 12 month high of $14.26. The stock has a market cap of $597.76 million, a PE ratio of 26.17 and a beta of 0.58. The company’s fifty day moving average price is $11.52 and its 200-day moving average price is $10.88.

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

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.013 dividend. This represents a yield of 1.3%. The ex-dividend date is Monday, June 30th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 30.61%.

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.