Horizon Kinetics Asset Management LLC Increases Stake in Permian Basin Royalty Trust $PBT

Horizon Kinetics Asset Management LLC increased its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 41.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,839,825 shares of the oil and gas producer’s stock after acquiring an additional 1,705,498 shares during the quarter. Permian Basin Royalty Trust makes up 0.9% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Horizon Kinetics Asset Management LLC owned approximately 12.53% of Permian Basin Royalty Trust worth $72,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Moors & Cabot Inc. raised its holdings in Permian Basin Royalty Trust by 4.5% in the 2nd quarter. Moors & Cabot Inc. now owns 530,208 shares of the oil and gas producer’s stock worth $6,606,000 after purchasing an additional 22,915 shares in the last quarter. Promethium Advisors LLC raised its position in shares of Permian Basin Royalty Trust by 46.4% in the 1st quarter. Promethium Advisors LLC now owns 131,829 shares of the oil and gas producer’s stock worth $1,306,000 after purchasing an additional 41,797 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Permian Basin Royalty Trust by 2,233.8% during the second quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock valued at $1,300,000 after buying an additional 99,829 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Permian Basin Royalty Trust by 4,701.1% in the 2nd quarter. Bessemer Group Inc. now owns 96,021 shares of the oil and gas producer’s stock worth $1,196,000 after purchasing an additional 94,021 shares in the last quarter. Finally, Atlas Wealth Partners LLC increased its holdings in Permian Basin Royalty Trust by 14.5% in the 2nd quarter. Atlas Wealth Partners LLC now owns 77,163 shares of the oil and gas producer’s stock worth $960,000 after buying an additional 9,800 shares in the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Down 0.0%

NYSE PBT opened at $18.17 on Monday. The stock has a market cap of $846.65 million, a PE ratio of 50.46 and a beta of 0.59. The company’s 50-day moving average price is $18.21 and its 200-day moving average price is $15.13. Permian Basin Royalty Trust has a 12 month low of $8.01 and a 12 month high of $20.46.

Permian Basin Royalty Trust (NYSE:PBT) last issued its earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter. The company had revenue of $7.27 million for the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be paid a $0.0192 dividend. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, November 28th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

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.