70,403 Shares in Permian Basin Royalty Trust (NYSE:PBT) Bought by Independent Advisor Alliance

Independent Advisor Alliance purchased a new position in shares of Permian Basin Royalty Trust (NYSE:PBT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,403 shares of the oil and gas producer’s stock, valued at approximately $837,000.

A number of other large investors have also recently added to or reduced their stakes in PBT. Access Investment Management LLC bought a new stake in shares of Permian Basin Royalty Trust in the 3rd quarter valued at about $97,000. International Assets Investment Management LLC raised its stake in Permian Basin Royalty Trust by 1,089.0% in the third quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after buying an additional 7,623 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Permian Basin Royalty Trust in the third quarter valued at approximately $110,000. Avondale Wealth Management bought a new position in shares of Permian Basin Royalty Trust during the 3rd quarter worth approximately $113,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of Permian Basin Royalty Trust during the 3rd quarter worth approximately $180,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

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 Stock Up 0.5 %

Shares of PBT stock opened at $13.20 on Thursday. Permian Basin Royalty Trust has a 52 week low of $10.14 and a 52 week high of $17.99. The company has a 50-day simple moving average of $11.88 and a 200 day simple moving average of $11.65.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.0217 dividend. This represents a $0.26 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, November 29th. Permian Basin Royalty Trust’s payout ratio is 46.15%.

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.