Mad River Investors Buys 30,313 Shares of Permian Basin Royalty Trust $PBT

Mad River Investors lifted its stake in Permian Basin Royalty Trust (NYSE:PBT) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 922,230 shares of the oil and gas producer’s stock after purchasing an additional 30,313 shares during the period. Permian Basin Royalty Trust makes up 7.2% of Mad River Investors’ investment portfolio, making the stock its 3rd largest holding. Mad River Investors owned 1.98% of Permian Basin Royalty Trust worth $16,831,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in Permian Basin Royalty Trust by 53.1% in the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 1,304 shares in the last quarter. Access Investment Management LLC purchased a new stake in shares of Permian Basin Royalty Trust during the 2nd quarter worth approximately $64,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Permian Basin Royalty Trust in the 2nd quarter worth approximately $81,000. Clark Asset Management LLC acquired a new stake in shares of Permian Basin Royalty Trust in the 2nd quarter worth approximately $124,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Permian Basin Royalty Trust in the 2nd quarter valued at approximately $147,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Permian Basin Royalty Trust currently has an average rating of “Hold”.

Permian Basin Royalty Trust Price Performance

Shares of NYSE PBT opened at $16.79 on Monday. The firm’s 50-day moving average is $18.10 and its two-hundred day moving average is $16.09. The company has a market capitalization of $782.58 million, a PE ratio of 49.38 and a beta of 0.47. Permian Basin Royalty Trust has a 12-month low of $8.01 and a 12-month high of $20.46.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings data on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 9,354.51% and a net margin of 88.68%.The firm had revenue of $7.27 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.0132 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, December 31st. Permian Basin Royalty Trust’s payout ratio is 67.65%.

Permian Basin Royalty Trust Company Profile

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.