Steward Partners Investment Advisory LLC Acquires 9,179 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Steward Partners Investment Advisory LLC lifted its position in Permian Basin Royalty Trust (NYSE:PBT) by 45.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,467 shares of the oil and gas producer’s stock after buying an additional 9,179 shares during the quarter. Steward Partners Investment Advisory LLC owned about 0.06% of Permian Basin Royalty Trust worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of Permian Basin Royalty Trust in the 4th quarter valued at $27,000. Prospera Private Wealth LLC bought a new position in Permian Basin Royalty Trust during the 3rd quarter worth approximately $110,000. Stratos Wealth Partners LTD. bought a new position in Permian Basin Royalty Trust during the 4th quarter worth approximately $121,000. Atria Wealth Solutions Inc. bought a new position in Permian Basin Royalty Trust in the fourth quarter valued at approximately $127,000. Finally, Flow Traders U.S. LLC acquired a new stake in shares of Permian Basin Royalty Trust in the third quarter valued at approximately $167,000. 28.86% of the stock is currently owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Stock Performance

Shares of Permian Basin Royalty Trust stock opened at $9.82 on Friday. The firm has a 50-day moving average of $11.08 and a 200-day moving average of $11.55. The stock has a market cap of $457.47 million, a PE ratio of 12.58 and a beta of 0.72. Permian Basin Royalty Trust has a 52-week low of $9.43 and a 52-week high of $14.58.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.0171 per share. The ex-dividend date is Friday, February 28th. This represents a $0.21 annualized dividend and a yield of 2.09%. Permian Basin Royalty Trust’s dividend payout ratio is 25.64%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a report on Thursday, February 20th.

About Permian Basin Royalty Trust

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.