Permian Basin Royalty Trust $PBT Shares Sold by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. cut its holdings in Permian Basin Royalty Trust (NYSE:PBT) by 3.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 933,719 shares of the oil and gas producer’s stock after selling 33,478 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Permian Basin Royalty Trust were worth $20,094,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. MOR Wealth Management LLC acquired a new position in Permian Basin Royalty Trust during the fourth quarter worth about $892,000. Mad River Investors increased its stake in shares of Permian Basin Royalty Trust by 7.0% during the 4th quarter. Mad River Investors now owns 986,819 shares of the oil and gas producer’s stock worth $16,756,000 after purchasing an additional 64,589 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its position in shares of Permian Basin Royalty Trust by 1.5% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock worth $105,069,000 after purchasing an additional 88,751 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Permian Basin Royalty Trust by 10.5% during the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock worth $9,946,000 after purchasing an additional 55,456 shares during the last quarter. Finally, Hosking Partners LLP lifted its stake in Permian Basin Royalty Trust by 12.8% in the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock valued at $5,887,000 after buying an additional 39,230 shares in the last quarter. 28.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Permian Basin Royalty Trust Stock Performance

Shares of PBT opened at $27.92 on Tuesday. Permian Basin Royalty Trust has a 1 year low of $12.31 and a 1 year high of $32.25. The company’s 50 day simple moving average is $27.10 and its 200 day simple moving average is $22.40. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 87.25 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The firm had revenue of $3.57 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.0247 per share. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 1.1%. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 93.75%.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.