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

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

Permian Basin Royalty Trust Stock Down 2.4 %

Shares of PBT stock opened at $10.77 on Wednesday. The business’s 50 day moving average is $11.53 and its two-hundred day moving average is $11.60. The company has a market cap 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.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings data 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 company had revenue of $8.37 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.0205 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Friday, January 31st. Permian Basin Royalty Trust’s dividend payout ratio is currently 32.05%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors have recently added to or reduced their stakes in the company. Schwartz Investment Counsel Inc. raised its holdings in Permian Basin Royalty Trust by 23.0% in the 3rd 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 acquiring an additional 262,233 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its stake in shares of Permian Basin Royalty Trust by 7.1% in the fourth 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 in the last quarter. Wells Fargo & Company MN raised its stake in shares of Permian Basin Royalty Trust by 211.0% in the fourth quarter. Wells Fargo & Company MN now owns 233,493 shares of the oil and gas producer’s stock valued at $2,587,000 after purchasing an additional 158,403 shares in the last quarter. OFI Invest Asset Management bought a new position in Permian Basin Royalty Trust in the fourth quarter worth $1,327,000. Finally, Commonwealth Equity Services LLC increased its holdings in Permian Basin Royalty Trust by 87.0% in 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. 28.86% of the stock is owned by institutional investors and hedge funds.

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.