Access Investment Management LLC Decreases Stock Position in Permian Basin Royalty Trust (NYSE:PBT)

Access Investment Management LLC cut its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 21.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,414 shares of the oil and gas producer’s stock after selling 1,750 shares during the quarter. Access Investment Management LLC’s holdings in Permian Basin Royalty Trust were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PBT. EagleClaw Capital Managment LLC boosted its stake 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 purchasing an additional 925 shares during the period. Golden State Wealth Management LLC bought a new stake in Permian Basin Royalty Trust in the 4th quarter worth $27,000. Atlas Wealth Partners LLC increased its position in shares of Permian Basin Royalty Trust by 4.0% in the fourth quarter. Atlas Wealth Partners LLC now owns 66,098 shares of the oil and gas producer’s stock valued at $730,000 after acquiring an additional 2,542 shares during the period. International Assets Investment Management LLC raised its stake in shares of Permian Basin Royalty Trust by 1,089.0% during the third quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after acquiring an additional 7,623 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Permian Basin Royalty Trust during the third quarter worth about $110,000. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Stock Down 2.4 %

Shares of Permian Basin Royalty Trust stock opened at $11.06 on Friday. The company has a market cap of $515.50 million, a PE ratio of 14.18 and a beta of 0.70. The business has a 50 day moving average of $11.32 and a 200 day moving average of $11.62. Permian Basin Royalty Trust has a 52 week low of $10.14 and a 52 week high of $14.58.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.0171 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.21 annualized dividend and a dividend yield of 1.86%. Permian Basin Royalty Trust’s dividend payout ratio is 25.64%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a report on Thursday.

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.