MOR Wealth Management LLC Invests $892,000 in Permian Basin Royalty Trust $PBT

Key Points

• MOR Wealth Management LLC purchased a new stake of 52,534 shares in Permian Basin Royalty Trust (NYSE: PBT) valued at approximately $892,000, equal to about 0.11% ownership.
• Permian Basin Royalty Trust recently cut its monthly dividend to $0.0107 (ex-dividend March 31), implying an annualized yield of roughly 0.6% and a payout ratio near 53%.
• Other institutions have been active—most notably JPMorgan Chase added about 99,829 shares—and hedge funds and institutional investors now own about 28.86% of the stock.

MOR Wealth Management LLC purchased a new stake in Permian Basin Royalty Trust (NYSE:PBT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 52,534 shares of the oil and gas producer's stock, valued at approximately $892,000. MOR Wealth Management LLC owned 0.11% of Permian Basin Royalty Trust as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PBT. Creative Planning raised its holdings in Permian Basin Royalty Trust by 14.5% during the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer's stock valued at $187,000 after acquiring an additional 1,903 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Permian Basin Royalty Trust by 2,233.8% in the second quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer's stock worth $1,300,000 after acquiring an additional 99,829 shares during the period. XTX Topco Ltd purchased a new position in shares of Permian Basin Royalty Trust in the second quarter valued at $188,000. Quadrature Capital Ltd bought a new stake in shares of Permian Basin Royalty Trust during the 2nd quarter valued at $232,000. Finally, Virtus Investment Advisers LLC lifted its holdings in Permian Basin Royalty Trust by 7.1% during the 2nd quarter. Virtus Investment Advisers LLC now owns 14,369 shares of the oil and gas producer's stock worth $179,000 after purchasing an additional 949 shares in the last quarter. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Up 0.0%

Shares of NYSE PBT opened at $22.22 on Monday. The company has a market cap of $1.04 billion, a P/E ratio of 69.45 and a beta of 0.43. Permian Basin Royalty Trust has a 52 week low of $8.01 and a 52 week high of $22.65. The business has a 50-day simple moving average of $19.71 and a two-hundred day simple moving average of $18.57.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings results on Friday, March 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 89.06% and a return on equity of 8,767.45%. The firm had revenue of $2.61 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be paid a $0.0107 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 0.6%. Permian Basin Royalty Trust's dividend payout ratio is currently 53.13%.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust NYSE: PBT is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.

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