Permian Basin Royalty Trust $PBT Shares Purchased by Mad River Investors

Mad River Investors boosted its position in Permian Basin Royalty Trust (NYSE:PBT) by 7.0% in the 4th quarter, Holdings Channel reports. The firm owned 986,819 shares of the oil and gas producer’s stock after acquiring an additional 64,589 shares during the quarter. Permian Basin Royalty Trust accounts for about 7.6% of Mad River Investors’ portfolio, making the stock its 3rd largest position. Mad River Investors’ holdings in Permian Basin Royalty Trust were worth $16,756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Permian Basin Royalty Trust in the 3rd quarter worth $40,000. NewEdge Advisors LLC increased 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 last quarter. Atlantic Union Bankshares Corp increased its stake in shares of Permian Basin Royalty Trust by 16.2% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock worth $138,000 after acquiring an additional 1,058 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Permian Basin Royalty Trust by 27.0% in the 2nd quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer’s stock worth $162,000 after acquiring an additional 2,769 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Permian Basin Royalty Trust by 14.5% in the 2nd quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock worth $187,000 after acquiring an additional 1,903 shares during the last quarter. 28.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Permian Basin Royalty Trust Stock Up 3.8%

Shares of PBT opened at $30.81 on Wednesday. Permian Basin Royalty Trust has a 52-week low of $10.80 and a 52-week high of $31.85. The company has a market capitalization of $1.44 billion, a PE ratio of 96.27 and a beta of 0.42. The stock has a fifty day simple moving average of $22.62 and a two-hundred day simple moving average of $19.91.

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

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.0204 per share. The ex-dividend date is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. Permian Basin Royalty Trust’s dividend payout ratio is currently 143.75%.

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.