Permian Basin Royalty Trust (NYSE:PBT) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Permian Basin Royalty Trust (NYSE:PBT – Get Rating) in a research note issued to investors on Thursday. The firm issued a hold rating on the oil and gas producer’s stock.

Permian Basin Royalty Trust Price Performance

NYSE:PBT opened at $22.83 on Thursday. The company has a market cap of $1.06 billion, a PE ratio of 19.85 and a beta of 0.88. Permian Basin Royalty Trust has a one year low of $11.40 and a one year high of $25.99. The firm’s 50 day simple moving average is $24.03 and its 200 day simple moving average is $21.31.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, March 14th. Stockholders of record on Tuesday, February 28th were given a $0.041 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.04. Permian Basin Royalty Trust’s payout ratio is 43.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PBT. Horizon Kinetics Asset Management LLC lifted its position in shares of Permian Basin Royalty Trust by 47.1% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 3,075,848 shares of the oil and gas producer’s stock worth $50,229,000 after purchasing an additional 985,353 shares during the period. UBS Group AG lifted its position in shares of Permian Basin Royalty Trust by 139.7% during the 4th quarter. UBS Group AG now owns 573,688 shares of the oil and gas producer’s stock valued at $14,457,000 after acquiring an additional 334,380 shares during the period. SoftVest Advisors LLC lifted its position in shares of Permian Basin Royalty Trust by 6.7% during the 2nd quarter. SoftVest Advisors LLC now owns 4,108,195 shares of the oil and gas producer’s stock valued at $67,991,000 after acquiring an additional 258,656 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Permian Basin Royalty Trust during the 1st quarter valued at $1,934,000. Finally, Morgan Stanley lifted its position in shares of Permian Basin Royalty Trust by 157.7% during the 4th quarter. Morgan Stanley now owns 241,720 shares of the oil and gas producer’s stock valued at $6,091,000 after acquiring an additional 147,931 shares during the period. Institutional investors and hedge funds own 24.72% of the company’s stock.

About Permian Basin Royalty Trust

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Permian Basin Royalty Trust is a trust of Argent Trust Company. Its properties include Waddell Ranch and Texas Royalty. The company was founded on November 1, 1980 and is headquartered in Dallas, TX.