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

Schwartz Investment Counsel Inc. lowered its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 1.1% during the 4th quarter, according to 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.’s holdings in Permian Basin Royalty Trust were worth $15,284,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Atlas Wealth Partners LLC lifted its position in shares of Permian Basin Royalty Trust by 4.0% in the fourth quarter. Atlas Wealth Partners LLC now owns 66,098 shares of the oil and gas producer’s stock valued at $730,000 after acquiring an additional 2,542 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Permian Basin Royalty Trust during the 4th quarter valued at approximately $27,000. Stratos Wealth Partners LTD. purchased a new position in Permian Basin Royalty Trust in the 4th quarter worth approximately $121,000. Avondale Wealth Management grew its holdings in Permian Basin Royalty Trust by 100.0% during the 4th quarter. Avondale Wealth Management now owns 19,000 shares of the oil and gas producer’s stock valued at $211,000 after buying an additional 9,500 shares in the last quarter. Finally, Flow Traders U.S. LLC bought a new stake in shares of Permian Basin Royalty Trust during the third quarter valued at approximately $167,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Wall Street Analyst Weigh In

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

Permian Basin Royalty Trust Stock Up 1.4 %

Shares of Permian Basin Royalty Trust stock opened at $11.05 on Wednesday. The firm has a market cap of $514.81 million, a price-to-earnings ratio of 14.16 and a beta of 0.70. Permian Basin Royalty Trust has a twelve month low of $10.14 and a twelve month high of $14.58. The business has a 50-day moving average price of $11.58 and a 200-day moving average price of $11.61.

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

Permian Basin Royalty Trust Cuts Dividend

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

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.