Moors & Cabot Inc. Decreases Stock Position in Permian Basin Royalty Trust (NYSE:PBT)

Key Points

• Moors & Cabot Inc. has reduced its stake in Permian Basin Royalty Trust by 14.6%, selling 86,928 shares, and now owns approximately 1.09% of the company.
• Other investors, such as Golden State Wealth Management and JPMorgan Chase, have increased their holdings significantly, indicating growing institutional interest in the trust.
• Permian Basin Royalty Trust announced a dividend increase to $0.0153, which translates to a remarkable dividend yield of 145.0%.

Moors & Cabot Inc. trimmed its stake in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 14.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 507,293 shares of the oil and gas producer's stock after selling 86,928 shares during the period. Moors & Cabot Inc. owned 1.09% of Permian Basin Royalty Trust worth $5,027,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Golden State Wealth Management LLC grew its stake in shares of 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 worth $48,000 after buying an additional 2,446 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Permian Basin Royalty Trust by 88.9% during 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 in the last quarter. Sunbelt Securities Inc. lifted its holdings in Permian Basin Royalty Trust by 7,352.9% during 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 in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of 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 purchasing an additional 1,623 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of 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 worth $134,000 after buying an additional 2,679 shares during the last quarter. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Price Performance

NYSE:PBT traded up $0.40 during trading hours on Monday, hitting $13.68. 76,198 shares of the company were exchanged, compared to its average volume of 143,135. The company's 50 day moving average price is $12.29 and its 200-day moving average price is $11.04. The stock has a market capitalization of $637.67 million, a price-to-earnings ratio of 27.70 and a beta of 0.59. Permian Basin Royalty Trust has a 52-week low of $8.01 and a 52-week high of $14.26.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued 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 business had revenue of $3.07 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.0153 per share. This represents a yield of 145.0%. This is a boost from Permian Basin Royalty Trust's previous dividend of $0.01. The ex-dividend date of this dividend is Thursday, July 31st. Permian Basin Royalty Trust's payout ratio is 36.73%.

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.