Prospera Private Wealth LLC Takes $110,000 Position in Permian Basin Royalty Trust (NYSE:PBT)

Prospera Private Wealth LLC bought a new position in shares of Permian Basin Royalty Trust (NYSE:PBT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,271 shares of the oil and gas producer’s stock, valued at approximately $110,000.

Other institutional investors have also bought and sold shares of the company. Schwartz Investment Counsel Inc. lifted its holdings in shares of Permian Basin Royalty Trust by 23.0% during the third quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock valued at $16,647,000 after acquiring an additional 262,233 shares during the period. Moors & Cabot Inc. boosted its position in Permian Basin Royalty Trust by 23.3% in the second quarter. Moors & Cabot Inc. now owns 460,087 shares of the oil and gas producer’s stock valued at $5,181,000 after buying an additional 87,080 shares in the last quarter. Mad River Investors grew its stake in Permian Basin Royalty Trust by 4.6% during the third quarter. Mad River Investors now owns 276,382 shares of the oil and gas producer’s stock worth $3,286,000 after buying an additional 12,209 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Permian Basin Royalty Trust during the second quarter worth approximately $1,303,000. Finally, BWM Planning LLC bought a new position in shares of Permian Basin Royalty Trust in the third quarter valued at approximately $1,233,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Performance

Shares of NYSE:PBT opened at $13.76 on Friday. The business has a fifty day moving average of $11.78 and a 200-day moving average of $11.64. Permian Basin Royalty Trust has a twelve month low of $10.14 and a twelve month high of $18.49.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.0217 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.89%. Permian Basin Royalty Trust’s payout ratio is 46.15%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

Permian Basin Royalty Trust 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.