Horizon Kinetics Asset Management LLC Raises Stake in Permian Basin Royalty Trust (NYSE:PBT)

Horizon Kinetics Asset Management LLC grew its position in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 7.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,946,083 shares of the oil and gas producer's stock after purchasing an additional 261,819 shares during the period. Permian Basin Royalty Trust makes up 0.5% of Horizon Kinetics Asset Management LLC's portfolio, making the stock its 20th biggest holding. Horizon Kinetics Asset Management LLC owned about 8.47% of Permian Basin Royalty Trust worth $43,723,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PBT. Commonwealth Equity Services LLC boosted its position 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 acquiring an additional 102,568 shares during the last quarter. Moors & Cabot Inc. lifted its position in Permian Basin Royalty Trust by 11.0% during the fourth quarter. Moors & Cabot Inc. now owns 594,221 shares of the oil and gas producer's stock valued at $6,584,000 after purchasing an additional 59,070 shares during the last quarter. OFI Invest Asset Management bought a new stake in Permian Basin Royalty Trust during the fourth quarter valued at approximately $1,327,000. Raymond James Financial Inc. purchased a new position in Permian Basin Royalty Trust in the 4th quarter worth approximately $622,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of 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 buying an additional 9,179 shares during the last quarter. Institutional investors own 28.86% of the company's stock.

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Permian Basin Royalty Trust Stock Performance

PBT stock traded down $0.13 during trading on Friday, hitting $10.03. 78,529 shares of the company traded hands, compared to its average volume of 131,078. Permian Basin Royalty Trust has a 1 year low of $9.43 and a 1 year high of $14.49. The company has a 50-day moving average of $10.89 and a 200-day moving average of $11.50. The firm has a market capitalization of $467.49 million, a PE ratio of 12.86 and a beta of 0.72.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its quarterly earnings data on Friday, March 14th. The oil and gas producer reported $0.08 EPS for the quarter. The firm had revenue of $3.79 million during the quarter. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.0171 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.21 annualized dividend and a dividend yield of 2.05%. Permian Basin Royalty Trust's dividend payout ratio is 36.36%.

Analyst Upgrades and Downgrades

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 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.