PFG Investments LLC Sells 3,596 Shares of Permian Basin Royalty Trust (NYSE:PBT)

PFG Investments LLC trimmed its stake in Permian Basin Royalty Trust (NYSE:PBT) by 20.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,070 shares of the oil and gas producer’s stock after selling 3,596 shares during the period. PFG Investments LLC’s holdings in Permian Basin Royalty Trust were worth $156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Access Investment Management LLC purchased a new position in Permian Basin Royalty Trust in the 3rd quarter worth approximately $97,000. International Assets Investment Management LLC raised its position in shares of Permian Basin Royalty Trust by 1,089.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after buying an additional 7,623 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter worth $110,000. Avondale Wealth Management purchased a new position in Permian Basin Royalty Trust in the third quarter worth $113,000. Finally, Flow Traders U.S. LLC bought a new position in Permian Basin Royalty Trust in the third quarter valued at $167,000. 28.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a research note on Monday, January 6th.

Permian Basin Royalty Trust Price Performance

NYSE:PBT opened at $10.86 on Friday. The company has a market capitalization of $506.17 million, a price-to-earnings ratio of 13.92 and a beta of 0.70. The business has a 50 day moving average of $11.89 and a 200 day moving average of $11.63. Permian Basin Royalty Trust has a 1-year low of $10.14 and a 1-year high of $14.84.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Tuesday, November 12th. The oil and gas producer reported $0.17 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%. The firm had revenue of $8.37 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.0205 per share. The ex-dividend date is Friday, January 31st. This represents a $0.25 annualized dividend and a yield of 2.27%. Permian Basin Royalty Trust’s payout ratio is 30.77%.

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.