Mad River Investors Buys 12,209 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Mad River Investors boosted its stake in Permian Basin Royalty Trust (NYSE:PBT) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 276,382 shares of the oil and gas producer’s stock after purchasing an additional 12,209 shares during the quarter. Permian Basin Royalty Trust comprises about 1.8% of Mad River Investors’ investment portfolio, making the stock its 13th largest holding. Mad River Investors’ holdings in Permian Basin Royalty Trust were worth $3,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PBT. OFI Invest Asset Management bought a new position in shares of Permian Basin Royalty Trust during the second quarter worth $1,303,000. Schwartz Investment Counsel Inc. lifted its holdings in Permian Basin Royalty Trust by 16.1% during the second quarter. Schwartz Investment Counsel Inc. now owns 1,140,169 shares of the oil and gas producer’s stock worth $12,793,000 after acquiring an additional 158,500 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Permian Basin Royalty Trust by 45.3% in the first quarter. Commonwealth Equity Services LLC now owns 72,614 shares of the oil and gas producer’s stock valued at $879,000 after acquiring an additional 22,623 shares during the period. Atlas Wealth Partners LLC acquired a new position in Permian Basin Royalty Trust in the third quarter valued at about $758,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Permian Basin Royalty Trust by 5.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock worth $247,000 after purchasing an additional 1,150 shares during the period. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Down 0.8 %

Shares of NYSE:PBT traded down $0.09 during trading on Wednesday, hitting $11.58. 94,544 shares of the company’s stock traded hands, compared to its average volume of 125,698. The company has a 50-day moving average price of $11.43 and a 200-day moving average price of $11.66. Permian Basin Royalty Trust has a 52 week low of $10.14 and a 52 week high of $20.39.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.18 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 96.28% and a return on equity of 15,940.96%. The firm had revenue of $8.83 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.03 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Thursday, October 31st. Permian Basin Royalty Trust’s payout ratio is presently 89.71%.

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.