April 13, 2024

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Essex Financial Services Inc. Sells 51,470 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Essex Financial Services Inc. cut its holdings in Permian Basin Royalty Trust (NYSE:PBT – Get Rating) by 18.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 228,908 shares of the oil and gas producer’s stock after selling 51,470 shares during the period. Essex Financial Services Inc. owned 0.49% of Permian Basin Royalty Trust worth $3,738,000 as of its most recent SEC filing.

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Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in Permian Basin Royalty Trust by 15.0% in the second quarter. BNP Paribas Arbitrage SA now owns 98,591 shares of the oil and gas producer’s stock worth $1,632,000 after acquiring an additional 12,835 shares during the period. Capital Analysts LLC raised its position in shares of Permian Basin Royalty Trust by 2.9% during the 2nd quarter. Capital Analysts LLC now owns 161,063 shares of the oil and gas producer’s stock valued at $2,666,000 after purchasing an additional 4,590 shares during the period. Mad River Investors raised its position in shares of Permian Basin Royalty Trust by 2.3% during the 3rd quarter. Mad River Investors now owns 333,922 shares of the oil and gas producer’s stock valued at $5,453,000 after purchasing an additional 7,522 shares during the period. SoftVest Advisors LLC raised its position in shares of Permian Basin Royalty Trust by 6.7% during the 2nd quarter. SoftVest Advisors LLC now owns 4,108,195 shares of the oil and gas producer’s stock valued at $67,991,000 after purchasing an additional 258,656 shares during the period. Finally, Horizon Kinetics Asset Management LLC raised its position in shares of Permian Basin Royalty Trust by 89.8% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 2,090,495 shares of the oil and gas producer’s stock valued at $34,598,000 after purchasing an additional 989,108 shares during the period. 24.72% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Stock Down 4.1 %

Shares of PBT stock traded down $1.02 on Friday, hitting $24.10. 53,875 shares of the stock traded hands, compared to its average volume of 294,626. Permian Basin Royalty Trust has a 52 week low of $9.87 and a 52 week high of $25.99. The firm has a 50 day simple moving average of $22.51 and a two-hundred day simple moving average of $19.78.

Permian Basin Royalty Trust (NYSE:PBT – Get Rating) last announced its quarterly earnings results on Monday, November 14th. The oil and gas producer reported $0.58 earnings per share (EPS) for the quarter. The company had revenue of $27.34 million for the quarter. Permian Basin Royalty Trust had a net margin of 97.85% and a return on equity of 12,528.51%.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be issued a $0.037 dividend. The ex-dividend date of this dividend is Monday, January 30th. This represents a $0.44 dividend on an annualized basis and a yield of 1.84%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Permian Basin Royalty Trust in a research report on Wednesday, October 12th. They set a “hold” rating on the stock.

Permian Basin Royalty Trust Profile

(Get Rating)

Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, Devonian, and Waddell fields located in Crane County, Texas.

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Institutional Ownership by Quarter for Permian Basin Royalty Trust (NYSE:PBT)

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