Schwartz Investment Counsel Inc. Lowers Stock Holdings in Permian Basin Royalty Trust $PBT

Schwartz Investment Counsel Inc. lessened its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 933,719 shares of the oil and gas producer’s stock after selling 33,478 shares during the quarter. Schwartz Investment Counsel Inc. owned about 2.00% of Permian Basin Royalty Trust worth $20,094,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PBT. Kestra Advisory Services LLC purchased a new position in Permian Basin Royalty Trust in the 4th quarter valued at $28,000. NewEdge Advisors LLC lifted its stake in shares of Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 1,304 shares during the period. Royal Bank of Canada boosted its holdings in shares of Permian Basin Royalty Trust by 6.0% in the fourth quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock valued at $166,000 after acquiring an additional 558 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Permian Basin Royalty Trust in the fourth quarter valued at about $211,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of Permian Basin Royalty Trust during the fourth quarter worth about $211,000. 28.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Permian Basin Royalty Trust Stock Up 6.6%

Shares of PBT opened at $27.92 on Tuesday. Permian Basin Royalty Trust has a 52-week low of $12.31 and a 52-week high of $32.25. The company has a 50-day simple moving average of $27.10 and a 200-day simple moving average of $22.40. The company has a market capitalization of $1.30 billion, a PE ratio of 87.25 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%. The firm had revenue of $3.57 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.0247 per share. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 1.1%. Permian Basin Royalty Trust’s dividend payout ratio is presently 93.75%.

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.