Permian Basin Royalty Trust (NYSE:PBT) Shares Acquired by Mad River Investors

Mad River Investors lifted its position in Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 91.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 471,693 shares of the oil and gas producer's stock after acquiring an additional 225,400 shares during the quarter. Permian Basin Royalty Trust accounts for 2.0% of Mad River Investors' portfolio, making the stock its 8th largest position. Mad River Investors owned about 1.01% of Permian Basin Royalty Trust worth $4,674,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC increased its stake in shares of Permian Basin Royalty Trust by 7.1% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 3,946,083 shares of the oil and gas producer's stock valued at $43,723,000 after buying an additional 261,819 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Permian Basin Royalty Trust by 211.0% during the fourth quarter. Wells Fargo & Company MN now owns 233,493 shares of the oil and gas producer's stock valued at $2,587,000 after acquiring an additional 158,403 shares in the last quarter. OFI Invest Asset Management acquired a new position in Permian Basin Royalty Trust during the 4th quarter valued at approximately $1,327,000. Commonwealth Equity Services LLC lifted its stake in shares of Permian Basin Royalty Trust by 87.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 220,527 shares of the oil and gas producer's stock worth $2,443,000 after buying an additional 102,568 shares during the period. Finally, Hosking Partners LLP grew its holdings in shares of Permian Basin Royalty Trust by 28.3% during the fourth quarter. Hosking Partners LLP now owns 307,551 shares of the oil and gas producer's stock valued at $3,408,000 after buying an additional 67,858 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Stock Performance

NYSE PBT traded down $0.09 during trading hours on Wednesday, reaching $12.05. The stock had a trading volume of 112,907 shares, compared to its average volume of 140,638. Permian Basin Royalty Trust has a 52-week low of $8.01 and a 52-week high of $14.26. The stock has a fifty day moving average of $10.82 and a 200 day moving average of $10.81. The stock has a market cap of $561.65 million, a P/E ratio of 24.59 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $3.07 million during the quarter. Permian Basin Royalty Trust had a net margin of 93.60% and a return on equity of 12,661.40%.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.013 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a yield of 1.3%. Permian Basin Royalty Trust's dividend payout ratio is presently 46.94%.

About Permian Basin Royalty Trust

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.