LPL Financial LLC Sells 55,262 Shares of Permian Basin Royalty Trust $PBT

Key Points

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LPL Financial LLC cut its stake in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 18.9% during the first quarter, according to the company in its most recent Form 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 period. LPL Financial LLC owned 0.51% of Permian Basin Royalty Trust worth $2,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Atlas Wealth Partners LLC raised its position in Permian Basin Royalty Trust by 1.9% during the first quarter. Atlas Wealth Partners LLC now owns 67,363 shares of the oil and gas producer's stock valued at $666,000 after purchasing an additional 1,265 shares during the period. Ameriprise Financial Inc. raised its position in 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 purchasing an additional 1,623 shares during the period. JPMorgan Chase & Co. raised its position in 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 purchasing an additional 2,250 shares during the period. Golden State Wealth Management LLC raised its position in Permian Basin Royalty Trust by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 2,446 shares during the period. Finally, Pekin Hardy Strauss Inc. raised its position in Permian Basin Royalty Trust by 19.2% during the first quarter. Pekin Hardy Strauss Inc. now owns 15,500 shares of the oil and gas producer's stock valued at $154,000 after purchasing an additional 2,500 shares during the period. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Performance

PBT stock traded up $0.7150 during midday trading on Friday, reaching $16.3950. 99,348 shares of the company traded hands, compared to its average volume of 169,768. Permian Basin Royalty Trust has a 52-week low of $8.01 and a 52-week high of $16.65. The business has a 50 day moving average of $13.60 and a 200-day moving average of $11.49. The firm has a market capitalization of $764.17 million, a price-to-earnings ratio of 45.54 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its quarterly earnings data 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 for the quarter.

Permian Basin Royalty Trust Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were paid a dividend of $0.0153 per share. This is a positive change from Permian Basin Royalty Trust's previous dividend of $0.01. This represents a dividend yield of 145.0%. The ex-dividend date of this dividend was Thursday, July 31st. Permian Basin Royalty Trust's payout ratio is currently 50.00%.

Permian Basin Royalty Trust Company 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.