Moors & Cabot Inc. Grows Stock Holdings in Permian Basin Royalty Trust (NYSE:PBT)

Moors & Cabot Inc. raised its position in Permian Basin Royalty Trust (NYSE:PBT) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 594,221 shares of the oil and gas producer’s stock after acquiring an additional 59,070 shares during the quarter. Moors & Cabot Inc. owned approximately 1.27% of Permian Basin Royalty Trust worth $6,584,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PBT. Apollon Wealth Management LLC purchased a new position in shares of Permian Basin Royalty Trust in the third quarter valued at about $180,000. Prospera Private Wealth LLC purchased a new position in shares of Permian Basin Royalty Trust in the third quarter valued at about $110,000. EagleClaw Capital Managment LLC increased its position in shares of Permian Basin Royalty Trust by 2.3% during the third quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock valued at $492,000 after buying an additional 925 shares during the period. Independent Advisor Alliance purchased a new position in shares of Permian Basin Royalty Trust during the third quarter valued at about $837,000. Finally, Flow Traders U.S. LLC purchased a new position in shares of Permian Basin Royalty Trust during the third quarter valued at about $167,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Price Performance

Shares of NYSE PBT opened at $9.80 on Wednesday. Permian Basin Royalty Trust has a 1 year low of $9.43 and a 1 year high of $14.58. The company’s 50-day moving average is $11.10 and its 200 day moving average is $11.56. The stock has a market capitalization of $456.54 million, a P/E ratio of 12.56 and a beta of 0.72.

Permian Basin Royalty Trust Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.