Horizon Kinetics Asset Management LLC Purchases 88,751 Shares of Permian Basin Royalty Trust $PBT

Horizon Kinetics Asset Management LLC raised its position in Permian Basin Royalty Trust (NYSE:PBT) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 6,187,800 shares of the oil and gas producer’s stock after buying an additional 88,751 shares during the quarter. Permian Basin Royalty Trust accounts for 1.4% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 11th largest position. Horizon Kinetics Asset Management LLC owned about 0.13% of Permian Basin Royalty Trust worth $105,069,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC boosted its holdings in Permian Basin Royalty Trust by 0.8% in the 4th quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer’s stock valued at $1,217,000 after purchasing an additional 604 shares during the period. NewEdge Advisors LLC boosted its holdings in Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 1,304 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Permian Basin Royalty Trust by 13.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,016 shares of the oil and gas producer’s stock valued at $222,000 after purchasing an additional 1,574 shares during the period. Creative Planning boosted its holdings in Permian Basin Royalty Trust by 11.9% in the 3rd quarter. Creative Planning now owns 16,778 shares of the oil and gas producer’s stock valued at $306,000 after purchasing an additional 1,783 shares during the period. Finally, Family Management Corp boosted its holdings in Permian Basin Royalty Trust by 16.8% in the 3rd quarter. Family Management Corp now owns 14,747 shares of the oil and gas producer’s stock valued at $269,000 after purchasing an additional 2,124 shares during the period. 28.86% of the stock is owned by institutional investors.

Permian Basin Royalty Trust Stock Performance

Permian Basin Royalty Trust stock opened at $27.75 on Wednesday. The firm’s fifty day moving average price is $25.12 and its 200-day moving average price is $21.01. The stock has a market cap of $1.29 billion, a P/E ratio of 86.73 and a beta of 0.49. Permian Basin Royalty Trust has a fifty-two week low of $11.37 and a fifty-two week high of $32.25.

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

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a dividend of $0.0204 per share. The ex-dividend date is Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 0.9%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 75.00%.

Analyst Upgrades and Downgrades

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

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.