Permian Basin Royalty Trust $PBT Position Raised by Mad River Investors

Mad River Investors grew its stake in Permian Basin Royalty Trust (NYSE:PBT) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 986,819 shares of the oil and gas producer’s stock after purchasing an additional 64,589 shares during the period. Permian Basin Royalty Trust comprises approximately 7.6% of Mad River Investors’ investment portfolio, making the stock its 3rd largest holding. Mad River Investors owned 2.12% of Permian Basin Royalty Trust worth $16,756,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. SoftVest Advisors LLC lifted its position in shares of Permian Basin Royalty Trust by 40.1% during the 2nd quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock valued at $77,335,000 after buying an additional 1,776,929 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Permian Basin Royalty Trust by 2,233.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock valued at $1,300,000 after buying an additional 99,829 shares in the last quarter. UBS Group AG lifted its position in shares of Permian Basin Royalty Trust by 170.1% during the 3rd quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock valued at $2,693,000 after buying an additional 92,936 shares in the last quarter. MOR Wealth Management LLC purchased a new position in shares of Permian Basin Royalty Trust during the 4th quarter valued at approximately $892,000. Finally, Hosking Partners LLP lifted its position in shares of Permian Basin Royalty Trust by 12.8% during the 4th quarter. Hosking Partners LLP now owns 346,683 shares of the oil and gas producer’s stock valued at $5,887,000 after buying an additional 39,230 shares in the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Performance

NYSE PBT opened at $30.81 on Wednesday. The business has a fifty day moving average price of $22.62 and a 200 day moving average price of $19.91. Permian Basin Royalty Trust has a one year low of $10.80 and a one year high of $31.85. The company has a market cap of $1.44 billion, a P/E ratio of 96.27 and a beta of 0.42.

Permian Basin Royalty Trust (NYSE:PBT) last posted 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 return on equity of 9,061.81% and a net margin of 88.99%.The firm had revenue of $3.57 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a $0.0204 dividend. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, May 29th. Permian Basin Royalty Trust’s dividend payout ratio is currently 143.75%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Permian Basin Royalty Trust currently has a consensus rating of “Sell”.

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.