Beese Fulmer Investment Management Inc. decreased its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,300 shares of the oil and gas producer’s stock after selling 2,050 shares during the quarter. Beese Fulmer Investment Management Inc. owned about 0.11% of Permian Basin Royalty Trust worth $318,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in PBT. Two Sigma Investments LP purchased a new position in Permian Basin Royalty Trust during the fourth quarter valued at $646,000. Millennium Management LLC purchased a new position in Permian Basin Royalty Trust during the fourth quarter valued at $100,000. GSA Capital Partners LLP purchased a new position in Permian Basin Royalty Trust during the fourth quarter valued at $91,000. Two Sigma Advisers LP raised its stake 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 valued at $372,000 after buying an additional 14,700 shares during the last quarter. Finally, Creative Planning purchased a new position in Permian Basin Royalty Trust during the first quarter valued at $107,000. Institutional investors and hedge funds own 8.98% of the company’s stock.
Shares of PBT stock traded up $0.18 during mid-day trading on Tuesday, hitting $5.26. The company’s stock had a trading volume of 249,700 shares, compared to its average volume of 100,023. Permian Basin Royalty Trust has a 52-week low of $5.00 and a 52-week high of $9.45. The company has a 50-day moving average of $5.74. The firm has a market capitalization of $245.63 million, a PE ratio of 9.58 and a beta of 0.84.
Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings results on Wednesday, May 8th. The oil and gas producer reported $0.09 earnings per share for the quarter. Permian Basin Royalty Trust had a return on equity of 5,424.90% and a net margin of 95.52%. The firm had revenue of $4.54 million during the quarter.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be paid a $0.044 dividend. This represents a $0.53 annualized dividend and a dividend yield of 10.04%. The ex-dividend date of this dividend is Tuesday, July 30th.
Separately, TheStreet cut Worthington Industries from a “b-” rating to a “c+” rating in a research note 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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