30,695 Permian Basin Royalty Trust $PBT Shares Sold by Foundation Resource Management Inc.

Key Points

• Foundation Resource Management reduced its Permian Basin Royalty Trust position by 4.9%, selling 30,695 shares and retaining 595,636 shares worth approximately $18.75 million. Other institutional investors made mixed moves, while institutions and hedge funds collectively own 28.86% of the trust.
• PBT shares recently traded at $33.77, near the upper end of their 52-week range of $16.25 to $37.00. The trust reported $0.08 in quarterly EPS on $4.18 million in revenue.
• The trust increased its monthly dividend to $0.0196 per share, equivalent to an annualized $0.24 payout and a 0.7% yield. Analyst sentiment remained neutral, with the stock carrying an overall “Hold” rating.

Foundation Resource Management Inc. trimmed its position in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 595,636 shares of the oil and gas producer's stock after selling 30,695 shares during the quarter. Permian Basin Royalty Trust accounts for approximately 1.6% of Foundation Resource Management Inc.'s portfolio, making the stock its 18th largest holding. Foundation Resource Management Inc. owned about 1.28% of Permian Basin Royalty Trust worth $18,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Post Resch Tallon Group Inc. raised its holdings in Permian Basin Royalty Trust by 10.2% during the third quarter. Post Resch Tallon Group Inc. now owns 9,261 shares of the oil and gas producer's stock worth $292,000 after purchasing an additional 859 shares in the last quarter. CX Institutional boosted its holdings in Permian Basin Royalty Trust by 31.5% in the 3rd quarter. CX Institutional now owns 2,773 shares of the oil and gas producer's stock valued at $87,000 after purchasing an additional 664 shares in the last quarter. Tidal Investments LLC purchased a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at approximately $211,000. Integrated Wealth Concepts LLC purchased a new stake in Permian Basin Royalty Trust in the 2nd quarter valued at approximately $114,000. Finally, NewEdge Advisors LLC increased its position in Permian Basin Royalty Trust by 25.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer's stock worth $87,000 after purchasing an additional 701 shares during the period. 28.86% of the stock is currently owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Stock Performance

NYSE:PBT traded up $0.64 during trading hours on Monday, hitting $33.77. The company's stock had a trading volume of 81,734 shares, compared to its average volume of 136,079. The business's 50-day moving average is $33.89 and its two-hundred day moving average is $28.97. The company has a market capitalization of $1.57 billion, a PE ratio of 96.50 and a beta of 0.56. Permian Basin Royalty Trust has a 52-week low of $16.25 and a 52-week high of $37.00.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. The company had revenue of $4.18 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.0196 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.0187. Permian Basin Royalty Trust's payout ratio is 65.71%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Permian Basin Royalty Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has an average rating of "Hold".

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust NYSE: PBT is a grantor trust that owns royalty and net profits interests in oil and natural gas properties located primarily in the Permian Basin of West Texas. The trust does not operate wells or provide products and services directly; instead, it receives proceeds generated by the underlying properties and distributes the resulting income to its unitholders.

The trust's interests include properties associated with the Waddell Ranch and other Texas royalty assets.

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