Permian Basin Royalty Trust (NYSE:PBT) Shares Purchased by Hosking Partners LLP

Hosking Partners LLP raised its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 28.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 307,551 shares of the oil and gas producer’s stock after buying an additional 67,858 shares during the period. Hosking Partners LLP’s holdings in Permian Basin Royalty Trust were worth $3,408,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PBT. Atria Wealth Solutions Inc. purchased a new stake in shares of Permian Basin Royalty Trust in the fourth quarter valued at $127,000. Atlas Wealth Partners LLC increased its position in Permian Basin Royalty Trust by 4.0% during the 4th quarter. Atlas Wealth Partners LLC now owns 66,098 shares of the oil and gas producer’s stock worth $730,000 after purchasing an additional 2,542 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth about $27,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth about $121,000. Finally, Avondale Wealth Management grew its holdings in shares of Permian Basin Royalty Trust by 100.0% during the fourth quarter. Avondale Wealth Management now owns 19,000 shares of the oil and gas producer’s stock worth $211,000 after buying an additional 9,500 shares in the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Down 1.2 %

Shares of PBT opened at $10.67 on Friday. The business’s 50-day moving average price is $11.26 and its 200 day moving average price is $11.61. The stock has a market capitalization of $497.32 million, a P/E ratio of 13.68 and a beta of 0.70. Permian Basin Royalty Trust has a 1-year low of $10.14 and a 1-year high of $14.58.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.0171 dividend. This represents a $0.21 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Friday, February 28th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 25.64%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.