Horizon Kinetics Asset Management LLC Buys 88,751 Shares of Permian Basin Royalty Trust $PBT

Horizon Kinetics Asset Management LLC grew its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 1.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,187,800 shares of the oil and gas producer’s stock after acquiring an additional 88,751 shares during the period. Permian Basin Royalty Trust comprises 1.4% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 11th biggest position. Horizon Kinetics Asset Management LLC owned approximately 13.28% of Permian Basin Royalty Trust worth $105,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. HighTower Advisors LLC grew its position in shares of Permian Basin Royalty Trust by 0.8% during the 4th quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer’s stock valued at $1,217,000 after acquiring an additional 604 shares during the period. NewEdge Advisors LLC grew its position in shares of Permian Basin Royalty Trust by 53.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after acquiring an additional 1,304 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Permian Basin Royalty Trust by 13.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,016 shares of the oil and gas producer’s stock valued at $222,000 after acquiring an additional 1,574 shares during the period. Creative Planning grew its position in shares of Permian Basin Royalty Trust by 11.9% during the 3rd quarter. Creative Planning now owns 16,778 shares of the oil and gas producer’s stock valued at $306,000 after acquiring an additional 1,783 shares during the period. Finally, Family Management Corp grew its position in shares of Permian Basin Royalty Trust by 16.8% during the 3rd quarter. Family Management Corp now owns 14,747 shares of the oil and gas producer’s stock valued at $269,000 after acquiring an additional 2,124 shares during the period. 28.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Permian Basin Royalty Trust Trading Down 4.0%

PBT opened at $27.75 on Wednesday. The company has a 50 day moving average of $25.12 and a 200 day moving average of $21.01. The company has a market cap of $1.29 billion, a PE ratio of 86.73 and a beta of 0.49. Permian Basin Royalty Trust has a 12 month low of $11.37 and a 12 month high of $32.25.

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. The company had revenue of $3.57 million during the quarter. Permian Basin Royalty Trust had a net margin of 88.99% and a return on equity of 9,061.81%.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $0.0204 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a yield of 0.9%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 75.00%.

Permian Basin Royalty Trust 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.