Ironwood Financial llc Takes Position in Permian Basin Royalty Trust (NYSE:PBT)

Ironwood Financial llc bought a new position in shares of Permian Basin Royalty Trust (NYSE:PBT) during the third quarter, HoldingsChannel reports. The institutional investor bought 18,500 shares of the oil and gas producer’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Avondale Wealth Management bought a new position in shares of Permian Basin Royalty Trust during the 3rd quarter valued at about $113,000. PFG Investments LLC lifted its stake in Permian Basin Royalty Trust by 8.1% during the second quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock valued at $210,000 after purchasing an additional 1,400 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Permian Basin Royalty Trust by 5.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock valued at $247,000 after purchasing an additional 1,150 shares during the last quarter. Virtu Financial LLC bought a new stake in Permian Basin Royalty Trust during the first quarter worth approximately $306,000. Finally, Commonwealth Equity Services LLC grew its position in Permian Basin Royalty Trust by 3.8% in the second quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock worth $849,000 after buying an additional 2,761 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Stock Performance

Shares of NYSE PBT traded down $0.09 during trading on Thursday, hitting $11.69. The company had a trading volume of 3,284 shares, compared to its average volume of 126,068. Permian Basin Royalty Trust has a 52 week low of $10.14 and a 52 week high of $21.46. The business’s 50-day moving average is $11.37 and its 200 day moving average is $11.69. The company has a market cap of $544.86 million, a P/E ratio of 19.02 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT) last announced its earnings results on Thursday, August 8th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 15,940.96% and a net margin of 96.28%. The company had revenue of $8.83 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.0507 per share. This represents a $0.61 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend was Monday, September 30th. Permian Basin Royalty Trust’s dividend payout ratio is presently 96.77%.

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.