Permian Basin Royalty Trust (NYSE:PBT) Shares Sold by Foundation Resource Management Inc.

Foundation Resource Management Inc. cut its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 662,541 shares of the oil and gas producer’s stock after selling 6,793 shares during the quarter. Foundation Resource Management Inc. owned 1.42% of Permian Basin Royalty Trust worth $7,341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EagleClaw Capital Managment LLC increased its position in shares of Permian Basin Royalty Trust by 2.3% during the third quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock worth $492,000 after acquiring an additional 925 shares during the period. Commonwealth Equity Services LLC increased its holdings in Permian Basin Royalty Trust by 3.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock worth $849,000 after purchasing an additional 2,761 shares during the period. International Assets Investment Management LLC raised its position in Permian Basin Royalty Trust by 1,089.0% in the 3rd quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after purchasing an additional 7,623 shares in the last quarter. Access Investment Management LLC purchased a new position in shares of Permian Basin Royalty Trust in the 3rd quarter valued at about $97,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Permian Basin Royalty Trust during the third quarter worth about $110,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a report on Monday, January 6th.

Permian Basin Royalty Trust Trading Down 0.6 %

Shares of PBT opened at $11.67 on Wednesday. The firm has a market capitalization of $543.94 million, a price-to-earnings ratio of 14.96 and a beta of 0.70. The firm’s fifty day simple moving average is $12.12 and its 200-day simple moving average is $11.62. Permian Basin Royalty Trust has a twelve month low of $10.14 and a twelve month high of $15.79.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.0219 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a $0.26 dividend on an annualized basis and a yield of 2.26%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 33.33%.

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.