Permian Basin Royalty Trust (NYSE:PBT) Stock Holdings Increased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC raised its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT) by 0.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,684,264 shares of the oil and gas producer’s stock after buying an additional 1,061 shares during the period. Permian Basin Royalty Trust comprises approximately 0.7% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Horizon Kinetics Asset Management LLC’s holdings in Permian Basin Royalty Trust were worth $43,806,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. EagleClaw Capital Managment LLC raised its holdings in Permian Basin Royalty Trust by 2.3% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock worth $492,000 after buying an additional 925 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Permian Basin Royalty Trust by 5.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock valued at $247,000 after acquiring an additional 1,150 shares during the period. PFG Investments LLC lifted its position in shares of Permian Basin Royalty Trust by 8.1% in the 2nd quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock valued at $210,000 after acquiring an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Permian Basin Royalty Trust by 3.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock worth $849,000 after purchasing an additional 2,761 shares during the period. Finally, International Assets Investment Management LLC grew its position in Permian Basin Royalty Trust by 1,089.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock worth $99,000 after purchasing an additional 7,623 shares in the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Price Performance

Shares of Permian Basin Royalty Trust stock opened at $13.51 on Monday. Permian Basin Royalty Trust has a 1 year low of $10.14 and a 1 year high of $18.49. The stock has a 50-day moving average price of $11.82 and a 200 day moving average price of $11.64.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.0217 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, November 29th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 46.15%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a report on Thursday, November 14th.

Permian Basin Royalty Trust 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.