Virtus ETF Advisers LLC bought a new stake in Permian Basin Royalty Trust (NYSE:PBT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 334,970 shares of the oil and gas producer’s stock, valued at approximately $2,040,000.
Other institutional investors and hedge funds have also modified their holdings of the company. TRUE Private Wealth Advisors bought a new stake in shares of Permian Basin Royalty Trust in the second quarter valued at approximately $26,000. LPL Financial LLC bought a new position in Permian Basin Royalty Trust in the second quarter valued at about $76,000. Creative Planning bought a new position in Permian Basin Royalty Trust in the first quarter valued at about $107,000. Millennium Management LLC bought a new position in Permian Basin Royalty Trust in the fourth quarter valued at about $100,000. Finally, Advisor Group Inc. boosted its holdings in Permian Basin Royalty Trust by 4.9% in the second quarter. Advisor Group Inc. now owns 44,543 shares of the oil and gas producer’s stock valued at $271,000 after acquiring an additional 2,068 shares during the last quarter. Institutional investors own 9.66% of the company’s stock.
Permian Basin Royalty Trust stock traded up $0.02 during mid-day trading on Friday, hitting $4.85. The stock had a trading volume of 2,733 shares, compared to its average volume of 102,011. Permian Basin Royalty Trust has a 12 month low of $4.71 and a 12 month high of $8.57. The stock has a market capitalization of $231.65 million, a PE ratio of 10.14 and a beta of 0.82. The stock has a 50-day simple moving average of $5.00 and a two-hundred day simple moving average of $6.22.
Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, August 8th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 4,958.15% and a net margin of 95.52%. The firm had revenue of $4.77 million for the quarter.
The business also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.043 per share. This represents a $0.52 dividend on an annualized basis and a yield of 10.64%. The ex-dividend date is Thursday, August 29th.
Separately, TheStreet cut Permian Basin Royalty Trust from a “b-” rating to a “c+” rating in a report on Monday, June 10th.
About Permian Basin Royalty Trust
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.
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