Apollon Wealth Management LLC Invests $180,000 in Permian Basin Royalty Trust (NYSE:PBT)

Apollon Wealth Management LLC acquired a new position in shares of Permian Basin Royalty Trust (NYSE:PBT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,145 shares of the oil and gas producer’s stock, valued at approximately $180,000.

Other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in Permian Basin Royalty Trust in the second quarter valued at $1,303,000. Atlas Wealth Partners LLC purchased a new position in Permian Basin Royalty Trust in the third quarter valued at $758,000. Schwartz Investment Counsel Inc. grew its holdings in shares of Permian Basin Royalty Trust by 16.1% during the second quarter. Schwartz Investment Counsel Inc. now owns 1,140,169 shares of the oil and gas producer’s stock worth $12,793,000 after purchasing an additional 158,500 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Permian Basin Royalty Trust by 5.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock worth $247,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Ironwood Financial llc purchased a new position in shares of Permian Basin Royalty Trust during the third quarter worth about $220,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Down 0.5 %

Shares of PBT opened at $12.80 on Tuesday. Permian Basin Royalty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $19.18. The firm has a 50-day simple moving average of $11.64 and a 200-day simple moving average of $11.60.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a $0.03 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.36 dividend on an annualized basis and a yield of 2.81%. Permian Basin Royalty Trust’s payout ratio is currently 46.15%.

Wall Street Analyst Weigh In

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

Permian Basin Royalty Trust Company 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.