Horizon Kinetics Asset Management LLC Raises Holdings in 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% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 0.5% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 20th biggest position. Horizon Kinetics Asset Management LLC owned 0.08% of Permian Basin Royalty Trust worth $43,723,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Permian Basin Royalty Trust during the fourth quarter valued at about $27,000. Prospera Private Wealth LLC bought a new position in shares of Permian Basin Royalty Trust in the 3rd quarter valued at about $110,000. Stratos Wealth Partners LTD. bought a new position in shares of Permian Basin Royalty Trust in the 4th quarter valued at about $121,000. Atria Wealth Solutions Inc. bought a new position in shares of Permian Basin Royalty Trust in the 4th quarter valued at about $127,000. Finally, Flow Traders U.S. LLC bought a new position in shares of Permian Basin Royalty Trust in the 3rd quarter valued at about $167,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Up 3.5 %

Shares of NYSE:PBT opened at $10.21 on Monday. Permian Basin Royalty Trust has a 12 month low of $9.43 and a 12 month high of $14.58. The company has a 50-day moving average price of $11.02 and a 200 day moving average price of $11.53. The company has a market cap of $475.64 million, a price-to-earnings ratio of 13.08 and a beta of 0.72.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Friday, March 14th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The business 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 company also recently disclosed a monthly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.0171 dividend. This represents a $0.21 annualized dividend and a yield of 2.01%. The ex-dividend date was Friday, February 28th. Permian Basin Royalty Trust’s payout ratio is currently 25.64%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of 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.