Hosking Partners LLP Grows Stake in Permian Basin Royalty Trust (NYSE:PBT)

Hosking Partners LLP lifted its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 28.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 307,551 shares of the oil and gas producer's stock after purchasing an additional 67,858 shares during the quarter. Hosking Partners LLP owned about 0.66% of Permian Basin Royalty Trust worth $3,408,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Wealth Solutions Inc. acquired a new stake in Permian Basin Royalty Trust during the 4th quarter worth approximately $127,000. Atlas Wealth Partners LLC increased its position in shares of Permian Basin Royalty Trust by 4.0% during the fourth quarter. Atlas Wealth Partners LLC now owns 66,098 shares of the oil and gas producer's stock worth $730,000 after acquiring an additional 2,542 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Permian Basin Royalty Trust in the fourth quarter valued at $27,000. Stratos Wealth Partners LTD. purchased a new position in Permian Basin Royalty Trust in the fourth quarter valued at $121,000. Finally, Avondale Wealth Management boosted its holdings in Permian Basin Royalty Trust by 100.0% in the fourth quarter. Avondale Wealth Management now owns 19,000 shares of the oil and gas producer's stock valued at $211,000 after purchasing an additional 9,500 shares during the period. Hedge funds and other institutional investors own 28.86% of the company's stock.

Analyst Ratings Changes

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

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Permian Basin Royalty Trust Trading Down 0.7 %

NYSE:PBT traded down $0.07 during mid-day trading on Tuesday, hitting $9.91. The stock had a trading volume of 321,391 shares, compared to its average volume of 121,447. Permian Basin Royalty Trust has a twelve month low of $9.43 and a twelve month high of $14.58. The stock has a 50-day simple moving average of $11.22 and a two-hundred day simple moving average of $11.60. The company has a market capitalization of $461.90 million, a PE ratio of 12.71 and a beta of 0.70.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.0171 per share. The ex-dividend date is Friday, February 28th. This represents a $0.21 annualized dividend and a dividend yield of 2.07%. Permian Basin Royalty Trust's dividend payout ratio (DPR) is currently 25.64%.

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.