Permian Basin Royalty Trust (NYSE:PBT) Upgraded at StockNews.com

StockNews.com upgraded shares of Permian Basin Royalty Trust (NYSE:PBT) from a hold rating to a buy rating in a report published on Wednesday.

Permian Basin Royalty Trust Price Performance

NYSE PBT opened at $11.00 on Wednesday. The company has a market capitalization of $512.90 million, a P/E ratio of 14.11 and a beta of 0.70. Permian Basin Royalty Trust has a 12 month low of $10.14 and a 12 month high of $14.58. The company’s 50 day simple moving average is $11.45 and its 200 day simple moving average is $11.60.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings data on Tuesday, November 12th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 17,811.24% and a net margin of 96.32%. The firm had revenue of $8.37 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.0205 per share. This represents a $0.25 annualized dividend and a yield of 2.24%. The ex-dividend date was Friday, January 31st. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 32.05%.

Institutional Trading of Permian Basin Royalty Trust

Several hedge funds and other institutional investors have recently modified their holdings of PBT. Horizon Kinetics Asset Management LLC lifted its stake in Permian Basin Royalty Trust by 7.1% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 3,946,083 shares of the oil and gas producer’s stock worth $43,723,000 after acquiring an additional 261,819 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its holdings in shares of Permian Basin Royalty Trust by 23.0% during the third quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock worth $16,647,000 after purchasing an additional 262,233 shares during the period. Moors & Cabot Inc. grew its position in Permian Basin Royalty Trust by 11.0% during the fourth quarter. Moors & Cabot Inc. now owns 594,221 shares of the oil and gas producer’s stock valued at $6,584,000 after purchasing an additional 59,070 shares in the last quarter. Hosking Partners LLP increased its stake in Permian Basin Royalty Trust by 28.3% in the 4th quarter. Hosking Partners LLP now owns 307,551 shares of the oil and gas producer’s stock valued at $3,408,000 after buying an additional 67,858 shares during the period. Finally, LPL Financial LLC lifted its position in Permian Basin Royalty Trust by 7.5% in the 4th quarter. LPL Financial LLC now owns 292,045 shares of the oil and gas producer’s stock worth $3,236,000 after buying an additional 20,496 shares in the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

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.