Moors & Cabot Inc. Purchases 59,070 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Moors & Cabot Inc. boosted its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 594,221 shares of the oil and gas producer’s stock after purchasing an additional 59,070 shares during the period. Moors & Cabot Inc.’s holdings in Permian Basin Royalty Trust were worth $6,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in Permian Basin Royalty Trust during the fourth quarter valued at approximately $27,000. Prospera Private Wealth LLC bought a new position in Permian Basin Royalty Trust during the third quarter valued at approximately $110,000. Stratos Wealth Partners LTD. bought a new position in Permian Basin Royalty Trust during the fourth quarter valued at approximately $121,000. Atria Wealth Solutions Inc. bought a new position in Permian Basin Royalty Trust during the fourth quarter valued at approximately $127,000. Finally, Flow Traders U.S. LLC bought a new position in Permian Basin Royalty Trust during the third quarter valued at approximately $167,000. Institutional investors own 28.86% of the company’s stock.

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 research report on Thursday, February 20th.

Permian Basin Royalty Trust Trading Down 4.2 %

Shares of PBT stock opened at $9.80 on Wednesday. Permian Basin Royalty Trust has a 12 month low of $9.43 and a 12 month high of $14.58. The stock has a market cap of $456.54 million, a P/E ratio of 12.56 and a beta of 0.72. The company has a 50 day simple moving average of $11.10 and a two-hundred day simple moving average of $11.56.

Permian Basin Royalty Trust Cuts Dividend

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

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.