SeaCrest Wealth Management LLC trimmed its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 83.6% during the second quarter, HoldingsChannel reports. The firm owned 15,879 shares of the oil and gas producer’s stock after selling 80,900 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Permian Basin Royalty Trust were worth $96,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Two Sigma Investments LP acquired a new position in Permian Basin Royalty Trust during the fourth quarter worth $646,000. Two Sigma Advisers LP increased its position in Permian Basin Royalty Trust by 30.4% during the fourth quarter. Two Sigma Advisers LP now owns 63,033 shares of the oil and gas producer’s stock worth $372,000 after buying an additional 14,700 shares during the last quarter. Millennium Management LLC bought a new stake in Permian Basin Royalty Trust during the fourth quarter valued at about $100,000. Creative Planning bought a new stake in Permian Basin Royalty Trust during the first quarter valued at about $107,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Permian Basin Royalty Trust during the first quarter valued at about $41,000. 8.81% of the stock is currently owned by institutional investors.
PBT stock traded down $0.10 during mid-day trading on Friday, reaching $5.13. 65,067 shares of the stock traded hands, compared to its average volume of 141,904. Permian Basin Royalty Trust has a 52 week low of $5.00 and a 52 week high of $9.35. The stock has a 50-day simple moving average of $5.63. The company has a market cap of $243.76 million, a price-to-earnings ratio of 9.51 and a beta of 0.83.
The company also recently declared a monthly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.044 per share. This represents a $0.53 dividend on an annualized basis and a yield of 10.29%. The ex-dividend date of this dividend is Tuesday, July 30th.
Separately, TheStreet cut shares of Permian Basin Royalty Trust from a “b-” rating to a “c+” rating in a report on Monday, June 10th.
Permian Basin Royalty Trust Profile
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, University-Waddell, and Waddell fields located in Crane County, Texas.
Read More: What is a growth and income fund?
Want to see what other hedge funds are holding PBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Permian Basin Royalty Trust (NYSE:PBT).
Receive News & Ratings for Permian Basin Royalty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Permian Basin Royalty Trust and related companies with MarketBeat.com's FREE daily email newsletter.