Permian Basin Royalty Trust $PBT Shares Sold by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. lessened its holdings in Permian Basin Royalty Trust (NYSE:PBT) by 32.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 984,672 shares of the oil and gas producer’s stock after selling 465,037 shares during the quarter. Schwartz Investment Counsel Inc. owned about 2.11% of Permian Basin Royalty Trust worth $17,980,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PBT. Geneos Wealth Management Inc. acquired a new stake in Permian Basin Royalty Trust during the 3rd quarter valued at approximately $27,000. NewEdge Advisors LLC lifted its position in Permian Basin Royalty Trust by 53.1% during the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 1,304 shares during the period. Access Investment Management LLC acquired a new position in Permian Basin Royalty Trust during the second quarter valued at $64,000. Atlantic Union Bankshares Corp purchased a new stake in Permian Basin Royalty Trust in the second quarter valued at $81,000. Finally, Clark Asset Management LLC acquired a new stake in Permian Basin Royalty Trust during the 2nd quarter worth about $124,000. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Performance

Shares of NYSE PBT opened at $18.62 on Monday. The company has a market capitalization of $867.65 million, a PE ratio of 54.75 and a beta of 0.45. The company’s fifty day moving average price is $17.93 and its 200 day moving average price is $16.88. Permian Basin Royalty Trust has a 1 year low of $8.01 and a 1 year 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 for the quarter. Permian Basin Royalty Trust had a net margin of 88.68% and a return on equity of 9,354.51%. The business had revenue of $7.27 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.0132 per share. The ex-dividend date was Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 0.9%. Permian Basin Royalty Trust’s dividend payout ratio is currently 47.06%.

Analyst Ratings Changes

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

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.