Hosking Partners LLP Acquires 39,230 Shares of Permian Basin Royalty Trust $PBT

Hosking Partners LLP grew its holdings in Permian Basin Royalty Trust (NYSE:PBT) by 12.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 346,683 shares of the oil and gas producer’s stock after acquiring an additional 39,230 shares during the quarter. Hosking Partners LLP owned 0.74% of Permian Basin Royalty Trust worth $5,887,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MOR Wealth Management LLC bought a new stake in shares of Permian Basin Royalty Trust in the fourth quarter valued at about $892,000. HighTower Advisors LLC boosted its stake in shares of Permian Basin Royalty Trust by 75.4% in the third quarter. HighTower Advisors LLC now owns 71,093 shares of the oil and gas producer’s stock valued at $1,298,000 after buying an additional 30,556 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Permian Basin Royalty Trust by 9.4% in the third quarter. Commonwealth Equity Services LLC now owns 290,577 shares of the oil and gas producer’s stock valued at $5,303,000 after buying an additional 24,853 shares during the period. Geneos Wealth Management Inc. bought a new stake in shares of Permian Basin Royalty Trust in the third quarter valued at approximately $27,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of Permian Basin Royalty Trust in the fourth quarter valued at approximately $211,000. Institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Down 0.2%

Shares of NYSE:PBT opened at $23.04 on Monday. The firm has a market cap of $1.07 billion, a P/E ratio of 72.01 and a beta of 0.42. Permian Basin Royalty Trust has a 12-month low of $9.80 and a 12-month high of $23.74. The business has a fifty day simple moving average of $21.43 and a 200 day simple moving average of $19.35.

Permian Basin Royalty Trust (NYSE:PBT) last announced its earnings results on Friday, March 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 8,774.67% and a net margin of 89.06%.The business had revenue of $2.61 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be issued a dividend of $0.038 per share. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, April 30th. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 143.75%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.