LPL Financial LLC Lowers Holdings in Permian Basin Royalty Trust $PBT

LPL Financial LLC decreased its holdings in Permian Basin Royalty Trust (NYSE:PBT) by 18.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,783 shares of the oil and gas producer’s stock after selling 55,262 shares during the quarter. LPL Financial LLC owned approximately 0.51% of Permian Basin Royalty Trust worth $2,347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Permian Basin Royalty Trust by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 2,446 shares during the period. JPMorgan Chase & Co. grew its holdings in Permian Basin Royalty Trust by 88.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer’s stock valued at $53,000 after buying an additional 2,250 shares during the period. Sunbelt Securities Inc. grew its holdings in Permian Basin Royalty Trust by 7,352.9% in the 1st quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer’s stock valued at $63,000 after buying an additional 6,250 shares during the period. Ameriprise Financial Inc. grew 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 valued at $128,000 after buying an additional 1,623 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Permian Basin Royalty Trust by 28.3% in 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 buying an additional 2,679 shares during the period. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Performance

Shares of NYSE:PBT opened at $15.09 on Tuesday. Permian Basin Royalty Trust has a 1 year low of $8.01 and a 1 year high of $16.65. The stock has a market capitalization of $703.11 million, a P/E ratio of 41.90 and a beta of 0.59. The stock has a 50-day simple moving average of $13.25 and a 200-day simple moving average of $11.36.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%. The business had revenue of $3.11 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were issued a dividend of $0.0153 per share. This represents a dividend yield of 145.0%. The ex-dividend date was Thursday, July 31st. This is an increase from Permian Basin Royalty Trust’s previous dividend of $0.01. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 50.00%.

Permian Basin Royalty Trust Profile

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.