Horizon Kinetics Asset Management LLC Purchases 261,819 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Horizon Kinetics Asset Management LLC grew its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,946,083 shares of the oil and gas producer’s stock after buying an additional 261,819 shares during the quarter. Permian Basin Royalty Trust accounts for approximately 0.5% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 20th largest position. Horizon Kinetics Asset Management LLC owned approximately 8.47% of Permian Basin Royalty Trust worth $43,723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in shares of Permian Basin Royalty Trust by 87.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 220,527 shares of the oil and gas producer’s stock valued at $2,443,000 after buying an additional 102,568 shares during the period. Moors & Cabot Inc. raised its holdings in Permian Basin Royalty Trust by 11.0% in the 4th quarter. Moors & Cabot Inc. now owns 594,221 shares of the oil and gas producer’s stock worth $6,584,000 after purchasing an additional 59,070 shares during the period. OFI Invest Asset Management bought a new position in Permian Basin Royalty Trust in the 4th quarter worth $1,327,000. Raymond James Financial Inc. bought a new position in Permian Basin Royalty Trust in the 4th quarter worth $622,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Permian Basin Royalty Trust by 45.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,467 shares of the oil and gas producer’s stock worth $326,000 after purchasing an additional 9,179 shares during the period. 28.86% of the stock is owned by institutional investors.

Permian Basin Royalty Trust Stock Performance

Shares of PBT stock opened at $10.21 on Monday. Permian Basin Royalty Trust has a 52-week low of $9.43 and a 52-week high of $14.58. The firm has a market capitalization of $475.64 million, a PE ratio of 13.08 and a beta of 0.72. The stock has a fifty day simple moving average of $11.02 and a two-hundred day simple moving average of $11.53.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings results on Friday, March 14th. The oil and gas producer reported $0.08 earnings per share (EPS) 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 $3.79 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.0171 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.21 dividend on an annualized basis and a yield of 2.01%. Permian Basin Royalty Trust’s payout ratio is presently 25.64%.

Analysts Set New Price Targets

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

Permian Basin Royalty Trust 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.