Napatree Capital LLC Buys 23,710 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Napatree Capital LLC lifted its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 105.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,273 shares of the oil and gas producer's stock after acquiring an additional 23,710 shares during the quarter. Napatree Capital LLC owned 0.10% of Permian Basin Royalty Trust worth $457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Mad River Investors increased its position in Permian Basin Royalty Trust by 91.5% in the first quarter. Mad River Investors now owns 471,693 shares of the oil and gas producer's stock worth $4,674,000 after buying an additional 225,400 shares during the last quarter. Wells Fargo & Company MN increased its position in Permian Basin Royalty Trust by 211.0% in the fourth quarter. Wells Fargo & Company MN now owns 233,493 shares of the oil and gas producer's stock worth $2,587,000 after buying an additional 158,403 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Permian Basin Royalty Trust by 87.0% in 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 last quarter. Schwartz Investment Counsel Inc. increased its position in Permian Basin Royalty Trust by 7.2% in the first quarter. Schwartz Investment Counsel Inc. now owns 1,486,902 shares of the oil and gas producer's stock worth $14,676,000 after buying an additional 100,000 shares during the last quarter. Finally, Lido Advisors LLC increased its position in Permian Basin Royalty Trust by 113.4% in the fourth quarter. Lido Advisors LLC now owns 114,642 shares of the oil and gas producer's stock worth $1,273,000 after buying an additional 60,926 shares during the last quarter. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Performance

NYSE:PBT traded up $0.28 during trading hours on Thursday, reaching $12.74. The stock had a trading volume of 142,569 shares, compared to its average volume of 146,594. The stock has a market cap of $593.66 million, a P/E ratio of 25.99 and a beta of 0.58. Permian Basin Royalty Trust has a 12-month low of $8.01 and a 12-month high of $14.26. The stock has a 50 day simple moving average of $11.71 and a 200 day simple moving average of $10.92.

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

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.013 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Permian Basin Royalty Trust's payout ratio is 30.61%.

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.