Permian Basin Royalty Trust (NYSE:PBT) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Permian Basin Royalty Trust (NYSE:PBT) from a hold rating to a buy rating in a report released on Wednesday morning.

Permian Basin Royalty Trust Price Performance

NYSE PBT opened at $10.77 on Wednesday. The firm has a market capitalization of $501.99 million, a PE ratio of 13.81 and a beta of 0.70. Permian Basin Royalty Trust has a 12 month low of $10.14 and a 12 month high of $14.58. The company’s 50 day simple moving average is $11.53 and its 200 day simple moving average is $11.60.

Permian Basin Royalty Trust (NYSE:PBT) last announced its earnings results on Tuesday, November 12th. The oil and gas producer reported $0.17 earnings per share for the quarter. Permian Basin Royalty Trust had a return on equity of 17,811.24% and a net margin of 96.32%. The business had revenue of $8.37 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.0205 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.25 annualized dividend and a yield of 2.29%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 32.05%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several large investors have recently modified their holdings of the stock. Horizon Kinetics Asset Management LLC boosted its position in shares of Permian Basin Royalty Trust by 7.1% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 3,946,083 shares of the oil and gas producer’s stock valued at $43,723,000 after purchasing an additional 261,819 shares during the period. Schwartz Investment Counsel Inc. lifted its holdings in shares of Permian Basin Royalty Trust by 23.0% in the third quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock valued at $16,647,000 after purchasing an additional 262,233 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of Permian Basin Royalty Trust by 11.0% in the fourth quarter. Moors & Cabot Inc. now owns 594,221 shares of the oil and gas producer’s stock worth $6,584,000 after buying an additional 59,070 shares during the period. Hosking Partners LLP raised its position in Permian Basin Royalty Trust by 28.3% during the fourth quarter. Hosking Partners LLP now owns 307,551 shares of the oil and gas producer’s stock valued at $3,408,000 after buying an additional 67,858 shares during the period. Finally, LPL Financial LLC lifted its stake in Permian Basin Royalty Trust by 7.5% in the 4th quarter. LPL Financial LLC now owns 292,045 shares of the oil and gas producer’s stock worth $3,236,000 after acquiring an additional 20,496 shares in the last quarter. 28.86% of the stock is owned by institutional investors.

About Permian Basin Royalty Trust

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.