Schwartz Investment Counsel Inc. Raises Stock Holdings in Permian Basin Royalty Trust (NYSE:PBT)

Schwartz Investment Counsel Inc. raised its position in Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,486,902 shares of the oil and gas producer's stock after buying an additional 100,000 shares during the quarter. Schwartz Investment Counsel Inc. owned approximately 3.19% of Permian Basin Royalty Trust worth $14,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its stake in Permian Basin Royalty Trust by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer's stock valued at $48,000 after buying an additional 2,446 shares during the last quarter. Mad River Investors lifted its stake 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 valued at $4,674,000 after buying an additional 225,400 shares during the last quarter. Avondale Wealth Management lifted its stake in Permian Basin Royalty Trust by 52.6% in the first quarter. Avondale Wealth Management now owns 29,000 shares of the oil and gas producer's stock valued at $287,000 after buying an additional 10,000 shares during the last quarter. Welch Group LLC lifted its stake in Permian Basin Royalty Trust by 68.3% in the first quarter. Welch Group LLC now owns 18,200 shares of the oil and gas producer's stock valued at $180,000 after buying an additional 7,384 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Permian Basin Royalty Trust in the fourth quarter valued at approximately $623,000. Hedge funds and other institutional investors own 28.86% of the company's stock.

Permian Basin Royalty Trust Trading Up 1.5%

Shares of NYSE PBT opened at $12.49 on Friday. Permian Basin Royalty Trust has a twelve month low of $8.01 and a twelve month high of $14.26. The stock has a 50 day moving average of $10.92 and a two-hundred day moving average of $10.80. The stock has a market cap of $582.16 million, a P/E ratio of 25.49 and a beta of 0.56.

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

Permian Basin Royalty Trust Cuts Dividend

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

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.

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