LPL Financial LLC Increases Stock Position in Permian Basin Royalty Trust (NYSE:PBT)

LPL Financial LLC increased its position in shares of Permian Basin Royalty Trust (NYSE:PBT – Get Rating) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,777 shares of the oil and gas producer’s stock after buying an additional 1,403 shares during the period. LPL Financial LLC owned 0.19% of Permian Basin Royalty Trust worth $2,212,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Boothbay Fund Management LLC purchased a new stake in Permian Basin Royalty Trust during the third quarter worth $321,000. Navellier & Associates Inc. purchased a new position in Permian Basin Royalty Trust during the third quarter valued at $250,000. Russell Investments Group Ltd. lifted its holdings in Permian Basin Royalty Trust by 101.5% during the third quarter. Russell Investments Group Ltd. now owns 17,939 shares of the oil and gas producer’s stock valued at $292,000 after purchasing an additional 9,038 shares in the last quarter. Sinecera Capital LLC lifted its holdings in Permian Basin Royalty Trust by 0.5% during the fourth quarter. Sinecera Capital LLC now owns 122,261 shares of the oil and gas producer’s stock valued at $3,086,000 after purchasing an additional 586 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its holdings in Permian Basin Royalty Trust by 47.1% during the third quarter. Horizon Kinetics Asset Management LLC now owns 3,075,848 shares of the oil and gas producer’s stock valued at $50,229,000 after purchasing an additional 985,353 shares in the last quarter. 24.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Permian Basin Royalty Trust in a research report on Thursday. They issued a “hold” rating for the company.

Permian Basin Royalty Trust Stock Up 0.1 %

Shares of NYSE PBT opened at $24.20 on Monday. Permian Basin Royalty Trust has a 52 week low of $14.06 and a 52 week high of $27.77. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 20.68 and a beta of 0.88. The firm has a 50-day simple moving average of $24.56 and a 200-day simple moving average of $23.54.

Permian Basin Royalty Trust (NYSE:PBT – Get Rating) last announced its quarterly earnings results on Wednesday, March 1st. The oil and gas producer reported $0.33 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 98.10% and a return on equity of 18,908.15%. The business had revenue of $15.42 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Wednesday, May 31st will be given a dividend of $0.044 per share. The ex-dividend date of this dividend is Tuesday, May 30th. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.03. This represents a $0.53 dividend on an annualized basis and a dividend yield of 2.18%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 27.35%.

Permian Basin Royalty Trust Profile

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Permian Basin Royalty Trust is a trust of Argent Trust Company. Its properties include Waddell Ranch and Texas Royalty. The company was founded on November 1, 1980 and is headquartered in Dallas, TX.