Wealth Enhancement Advisory Services LLC Buys 1,150 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Wealth Enhancement Advisory Services LLC increased its stake in Permian Basin Royalty Trust (NYSE:PBT) by 5.5% in the second quarter, Holdings Channel reports. The institutional investor owned 21,918 shares of the oil and gas producer’s stock after acquiring an additional 1,150 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Permian Basin Royalty Trust were worth $247,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PBT. Fielder Capital Group LLC bought a new stake in Permian Basin Royalty Trust in the fourth quarter worth $861,000. Virtu Financial LLC purchased a new stake in Permian Basin Royalty Trust in the first quarter worth $306,000. Commonwealth Equity Services LLC increased its stake in Permian Basin Royalty Trust by 45.3% in the first quarter. Commonwealth Equity Services LLC now owns 72,614 shares of the oil and gas producer’s stock worth $879,000 after purchasing an additional 22,623 shares during the period. PFG Investments LLC purchased a new stake in Permian Basin Royalty Trust in the first quarter worth $209,000. Finally, Essex Financial Services Inc. increased its stake in Permian Basin Royalty Trust by 26.4% in the fourth quarter. Essex Financial Services Inc. now owns 66,792 shares of the oil and gas producer’s stock worth $932,000 after purchasing an additional 13,931 shares during the period. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Stock Up 3.5 %

PBT stock opened at $11.30 on Tuesday. The business’s fifty day simple moving average is $11.17 and its two-hundred day simple moving average is $12.07. Permian Basin Royalty Trust has a twelve month low of $10.14 and a twelve month high of $22.50. The firm has a market cap of $526.68 million, a price-to-earnings ratio of 18.23 and a beta of 0.57.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.052 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.62 dividend on an annualized basis and a yield of 5.52%. Permian Basin Royalty Trust’s payout ratio is 100.00%.

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.