Access Investment Management LLC Sells 1,750 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Access Investment Management LLC decreased its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 21.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,414 shares of the oil and gas producer’s stock after selling 1,750 shares during the quarter. Access Investment Management LLC’s holdings in Permian Basin Royalty Trust were worth $71,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new position in shares of Permian Basin Royalty Trust during the fourth quarter valued at $27,000. International Assets Investment Management LLC increased its position in shares of Permian Basin Royalty Trust by 1,089.0% during 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 acquiring an additional 7,623 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Permian Basin Royalty Trust in the 3rd quarter worth approximately $110,000. Stratos Wealth Partners LTD. bought a new position in Permian Basin Royalty Trust in the 4th quarter valued at approximately $121,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in Permian Basin Royalty Trust during the 4th quarter valued at $127,000. 28.86% of the stock is owned by institutional investors.

Permian Basin Royalty Trust Stock Performance

Shares of NYSE:PBT opened at $11.06 on Friday. The firm has a market cap of $515.50 million, a price-to-earnings ratio of 14.18 and a beta of 0.70. The business has a 50-day simple moving average of $11.32 and a two-hundred day simple moving average of $11.62. Permian Basin Royalty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $14.58.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.0171 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, February 28th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 25.64%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a research note on Thursday.

About Permian Basin Royalty Trust

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.