Schwartz Investment Counsel Inc. Decreases Stock Holdings in Permian Basin Royalty Trust $PBT

Schwartz Investment Counsel Inc. lessened its stake in Permian Basin Royalty Trust (NYSE:PBT) by 32.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 984,672 shares of the oil and gas producer’s stock after selling 465,037 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Permian Basin Royalty Trust were worth $17,980,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PBT. Geneos Wealth Management Inc. acquired a new stake in shares of Permian Basin Royalty Trust in the third quarter valued at about $27,000. NewEdge Advisors LLC lifted its stake 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 buying an additional 1,304 shares in the last quarter. Access Investment Management LLC acquired a new stake in Permian Basin Royalty Trust in the 2nd quarter worth about $64,000. Atlantic Union Bankshares Corp purchased a new stake in Permian Basin Royalty Trust during the 2nd quarter worth approximately $81,000. Finally, Clark Asset Management LLC acquired a new position in shares of Permian Basin Royalty Trust during the second quarter valued at approximately $124,000. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Trading Up 1.2%

Shares of NYSE PBT opened at $18.62 on Monday. The stock has a market cap of $867.65 million, a PE ratio of 54.75 and a beta of 0.45. Permian Basin Royalty Trust has a 12-month low of $8.01 and a 12-month high of $20.46. The company has a 50-day moving average of $17.93 and a 200 day moving average of $16.88.

Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share for the quarter. The business had revenue of $7.27 million for the quarter. Permian Basin Royalty Trust had a net margin of 88.68% and a return on equity of 9,354.51%.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.0132 dividend. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, December 31st. Permian Basin Royalty Trust’s dividend payout ratio is presently 47.06%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Permian Basin Royalty Trust Company Profile

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.