Schwartz Investment Counsel Inc. Cuts Holdings in Permian Basin Royalty Trust (NYSE:PBT)

Schwartz Investment Counsel Inc. reduced its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,386,902 shares of the oil and gas producer’s stock after selling 15,500 shares during the quarter. Schwartz Investment Counsel Inc. owned 2.98% of Permian Basin Royalty Trust worth $15,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Golden State Wealth Management LLC bought a new position in Permian Basin Royalty Trust during the 4th quarter valued at about $27,000. Access Investment Management LLC purchased a new position in shares of Permian Basin Royalty Trust during the third quarter valued at approximately $97,000. International Assets Investment Management LLC lifted its position in 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 purchasing an additional 7,623 shares during the period. Prospera Private Wealth LLC purchased a new stake in Permian Basin Royalty Trust in the third quarter worth approximately $110,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Permian Basin Royalty Trust in the fourth quarter worth approximately $121,000. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Performance

PBT stock opened at $11.05 on Wednesday. The company has a market cap of $514.81 million, a price-to-earnings ratio of 14.16 and a beta of 0.70. The business’s 50-day moving average is $11.58 and its two-hundred day moving average is $11.61. 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 (NYSE:PBT) last issued its quarterly earnings data on Tuesday, November 12th. The oil and gas producer reported $0.17 earnings per share for the quarter. The firm had revenue of $8.37 million for the quarter. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.0205 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.25 annualized dividend and a yield of 2.23%. Permian Basin Royalty Trust’s payout ratio is presently 32.05%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a research note on Monday, January 6th.

Permian Basin Royalty Trust Company Profile

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.