51,214 Permian Basin Royalty Trust $PBT Shares Bought by Mad River Investors

Key Points

• Mad River Investors increased its Permian Basin Royalty Trust stake by 5.1% in the third quarter, purchasing 51,214 shares and bringing its holdings to 1.06 million shares valued at approximately $33.3 million.
• Institutional ownership remains significant, with hedge funds and other institutions holding 28.86% of PBT’s outstanding shares; several firms also increased their positions during the year.
• Permian Basin Royalty Trust raised its monthly dividend to $0.0452 per share, up from $0.0196, implying a $0.54 annualized payout and a 1.6% yield. Analysts maintain a consensus “Hold” rating.

Mad River Investors boosted its stake in Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,056,366 shares of the oil and gas producer's stock after buying an additional 51,214 shares during the period. Permian Basin Royalty Trust accounts for approximately 13.5% of Mad River Investors' portfolio, making the stock its 2nd largest position. Mad River Investors' holdings in Permian Basin Royalty Trust were worth $33,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PBT. Sei Investments Co. raised its position in shares of Permian Basin Royalty Trust by 116.0% in the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer's stock worth $9,081,000 after acquiring an additional 226,600 shares in the last quarter. Post Resch Tallon Group Inc. lifted its stake in shares of Permian Basin Royalty Trust by 10.2% in the 3rd quarter. Post Resch Tallon Group Inc. now owns 9,261 shares of the oil and gas producer's stock valued at $292,000 after purchasing an additional 859 shares during the period. CX Institutional lifted its stake in shares of 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 during the period. Corient Private Wealth LP lifted its stake in shares of Permian Basin Royalty Trust by 10.4% in the 2nd quarter. Corient Private Wealth LP now owns 20,865 shares of the oil and gas producer's stock valued at $522,000 after purchasing an additional 1,974 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Permian Basin Royalty Trust by 25.1% during the second quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer's stock valued at $87,000 after purchasing an additional 701 shares in the last quarter. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Price Performance

Shares of Permian Basin Royalty Trust stock opened at $33.27 on Thursday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 95.06 and a beta of 0.56. The firm's 50-day moving average is $33.95 and its 200 day moving average is $26.62. Permian Basin Royalty Trust has a 1 year low of $16.25 and a 1 year high of $37.00.

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

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be paid a $0.0452 dividend. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.0196. This represents a $0.54 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, October 30th. Permian Basin Royalty Trust's payout ratio is currently 154.29%.

Wall Street Analysts Forecast Growth

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 analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has an average rating of "Hold".

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust NYSE: PBT is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not explore for, develop, or operate properties itself. Instead, it receives proceeds generated from the production and sale of hydrocarbons from properties in which it owns royalty or net profits interests.

The trust's principal interests include properties associated with the Waddell Ranch in Texas, as well as additional Texas royalty properties.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.