Independent Advisor Alliance Makes New $837,000 Investment in Permian Basin Royalty Trust (NYSE:PBT)

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

Several other large investors also recently modified their holdings of the stock. EagleClaw Capital Managment LLC lifted its position in Permian Basin Royalty Trust by 2.3% during the third quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock worth $492,000 after purchasing an additional 925 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Permian Basin Royalty Trust by 5.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock valued at $247,000 after acquiring an additional 1,150 shares during the last quarter. PFG Investments LLC raised its holdings in shares of Permian Basin Royalty Trust by 8.1% during the 2nd quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock worth $210,000 after buying an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Permian Basin Royalty Trust by 3.8% during the second quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock worth $849,000 after acquiring an additional 2,761 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in Permian Basin Royalty Trust by 1,089.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock worth $99,000 after purchasing an additional 7,623 shares in the last quarter. 28.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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 %

Permian Basin Royalty Trust stock opened at $13.20 on Thursday. The business has a 50 day moving average of $11.88 and a 200-day moving average of $11.65. Permian Basin Royalty Trust has a 1 year low of $10.14 and a 1 year high of $17.99.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.0217 per share. The ex-dividend date is Friday, November 29th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.97%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 46.15%.

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.