Lazard Asset Management LLC Purchases New Position in Permian Basin Royalty Trust (NYSE:PBT)

Lazard Asset Management LLC purchased a new position in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 56,268 shares of the oil and gas producer's stock, valued at approximately $623,000. Lazard Asset Management LLC owned approximately 0.12% of Permian Basin Royalty Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hosking Partners LLP increased its stake in shares of Permian Basin Royalty Trust by 28.3% during the 4th quarter. Hosking Partners LLP now owns 307,551 shares of the oil and gas producer's stock worth $3,408,000 after purchasing an additional 67,858 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Permian Basin Royalty Trust by 87.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 220,527 shares of the oil and gas producer's stock worth $2,443,000 after purchasing an additional 102,568 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its stake in shares of Permian Basin Royalty Trust by 7.1% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 3,946,083 shares of the oil and gas producer's stock worth $43,723,000 after purchasing an additional 261,819 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Permian Basin Royalty Trust by 45.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,467 shares of the oil and gas producer's stock worth $326,000 after purchasing an additional 9,179 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Permian Basin Royalty Trust during the 4th quarter worth about $1,327,000. 28.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Permian Basin Royalty Trust from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th.

Permian Basin Royalty Trust Trading Up 0.0%

Shares of Permian Basin Royalty Trust stock traded up $0.01 during trading on Tuesday, hitting $11.26. 126,458 shares of the stock were exchanged, compared to its average volume of 126,155. Permian Basin Royalty Trust has a 1-year low of $8.01 and a 1-year high of $14.26. The stock has a market capitalization of $524.58 million, a price-to-earnings ratio of 14.43 and a beta of 0.56. The company has a fifty day moving average price of $10.02 and a 200-day moving average price of $11.00.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%. The business had revenue of $3.07 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, June 13th. Investors of record on Monday, June 2nd will be paid a $0.0188 dividend. The ex-dividend date is Friday, May 30th. This represents a yield of 2.01%. Permian Basin Royalty Trust's dividend payout ratio (DPR) is currently 44.90%.

Permian Basin Royalty Trust 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.