Permian Basin Royalty Trust $PBT Stock Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. cut its stake in Permian Basin Royalty Trust (NYSE:PBT) by 4.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 595,636 shares of the oil and gas producer’s stock after selling 30,695 shares during the quarter. Permian Basin Royalty Trust makes up approximately 1.6% of Foundation Resource Management Inc.’s portfolio, making the stock its 18th biggest holding. Foundation Resource Management Inc.’s holdings in Permian Basin Royalty Trust were worth $18,751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mad River Investors boosted its stake in shares of Permian Basin Royalty Trust by 1.7% during the 1st quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock worth $21,588,000 after acquiring an additional 16,321 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Permian Basin Royalty Trust by 116.0% in the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after acquiring an additional 226,600 shares during the period. Corient Private Wealth LP increased its stake in Permian Basin Royalty Trust by 10.4% in the 2nd quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer’s stock valued at $522,000 after purchasing an additional 1,974 shares in the last quarter. Welch Group LLC increased its stake in Permian Basin Royalty Trust by 8.4% in the 1st quarter. Welch Group LLC now owns 19,298 shares of the oil and gas producer’s stock valued at $415,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Post Resch Tallon Group Inc. increased its stake in Permian Basin Royalty Trust by 10.2% in the 3rd quarter. Post Resch Tallon Group Inc. now owns 9,261 shares of the oil and gas producer’s stock valued at $292,000 after purchasing an additional 859 shares in the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Permian Basin Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, Permian Basin Royalty Trust presently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Trading Up 1.9%

Shares of NYSE:PBT traded up $0.64 during midday trading on Monday, hitting $33.77. 81,734 shares of the stock were exchanged, compared to its average volume of 136,079. The stock has a market cap of $1.57 billion, a P/E ratio of 96.50 and a beta of 0.56. Permian Basin Royalty Trust has a twelve month low of $16.25 and a twelve month high of $37.00. The company has a 50 day moving average price of $33.89 and a 200-day moving average price of $28.97.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%. The business had revenue of $4.18 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.0196 per share. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.0187. The ex-dividend date was Wednesday, September 30th. This represents a $0.24 annualized dividend and a yield of 0.7%. Permian Basin Royalty Trust’s payout ratio is 65.71%.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust (NYSE:PBT) is a grantor trust that owns royalty and net profits interests in oil and natural gas properties located primarily in the Permian Basin of West Texas. The trust does not operate wells or provide products and services directly; instead, it receives proceeds generated by the underlying properties and distributes the resulting income to its unitholders.

The trust’s interests include properties associated with the Waddell Ranch and other Texas royalty assets.