Schwartz Investment Counsel Inc. Sells 37,193 Shares of Permian Basin Royalty Trust $PBT

Key Points

• Schwartz Investment Counsel Inc. decreased its stake in Permian Basin Royalty Trust by 2.5%, selling 37,193 shares, and now holds a total of 1,449,709 shares valued at approximately $18 million.
• The monthly dividend increased to $0.1155 per share, yielding 7.8%, up from the previous dividend of $0.02, with a payout ratio of 383.33%.
• Permian Basin Royalty Trust's stock rose 5.5% to $17.87, while the company reported earnings of $0.05 per share with a return on equity of over 9,700% for the last quarter.

Schwartz Investment Counsel Inc. reduced its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,449,709 shares of the oil and gas producer's stock after selling 37,193 shares during the quarter. Schwartz Investment Counsel Inc. owned 3.11% of Permian Basin Royalty Trust worth $18,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Atlas Wealth Partners LLC lifted its holdings in Permian Basin Royalty Trust by 1.9% in the first quarter. Atlas Wealth Partners LLC now owns 67,363 shares of the oil and gas producer's stock valued at $666,000 after acquiring an additional 1,265 shares during the period. Golden State Wealth Management LLC lifted its holdings 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 acquiring an additional 2,446 shares during the period. Pekin Hardy Strauss Inc. lifted its holdings in Permian Basin Royalty Trust by 19.2% in the first quarter. Pekin Hardy Strauss Inc. now owns 15,500 shares of the oil and gas producer's stock valued at $154,000 after acquiring an additional 2,500 shares during the period. Financial Sense Advisors Inc. lifted its holdings in Permian Basin Royalty Trust by 25.0% in the first quarter. Financial Sense Advisors Inc. now owns 25,000 shares of the oil and gas producer's stock valued at $248,000 after acquiring an additional 5,000 shares during the period. Finally, Sunbelt Securities Inc. lifted its holdings in Permian Basin Royalty Trust by 7,352.9% in the first quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer's stock valued at $63,000 after acquiring an additional 6,250 shares during the period. Institutional investors own 28.86% of the company's stock.

Permian Basin Royalty Trust Stock Up 5.5%

NYSE PBT opened at $17.87 on Tuesday. The stock's 50-day moving average price is $17.37 and its 200-day moving average price is $13.59. Permian Basin Royalty Trust has a 52 week low of $8.01 and a 52 week high of $19.52. The company has a market capitalization of $832.90 million, a P/E ratio of 49.64 and a beta of 0.63.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The oil and gas producer reported $0.05 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.The firm had revenue of $3.11 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.1155 dividend. This represents a c) annualized dividend and a dividend yield of 7.8%. This is an increase from Permian Basin Royalty Trust's previous monthly dividend of $0.02. The ex-dividend date of this dividend was Tuesday, September 30th. Permian Basin Royalty Trust's dividend payout ratio is 383.33%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Permian Basin Royalty Trust in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

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.

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