Moors & Cabot Inc. Purchases 75,064 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Moors & Cabot Inc. raised its stake in Permian Basin Royalty Trust (NYSE:PBT) by 16.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 535,151 shares of the oil and gas producer’s stock after buying an additional 75,064 shares during the period. Moors & Cabot Inc.’s holdings in Permian Basin Royalty Trust were worth $6,363,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. EagleClaw Capital Managment LLC boosted its stake in shares of Permian Basin Royalty Trust by 2.3% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock valued at $492,000 after purchasing an additional 925 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Permian Basin Royalty Trust by 5.5% in the 2nd 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 in the last quarter. PFG Investments LLC boosted its stake in shares of Permian Basin Royalty Trust by 8.1% in the 2nd 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 in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Permian Basin Royalty Trust by 3.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock valued at $849,000 after purchasing an additional 2,761 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in 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 during the period. Institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Up 1.9 %

Shares of NYSE:PBT traded up $0.25 on Wednesday, hitting $13.26. The company had a trading volume of 24,442 shares, compared to its average volume of 126,788. The firm’s 50-day simple moving average is $11.68 and its two-hundred day simple moving average is $11.61. Permian Basin Royalty Trust has a 1 year low of $10.14 and a 1 year high of $18.49.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.0217 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.26 annualized dividend and a dividend yield of 1.96%. Permian Basin Royalty Trust’s dividend payout ratio is 46.15%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

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.