EagleClaw Capital Managment LLC Trims Stake in Permian Basin Royalty Trust (NYSE:PBT)

EagleClaw Capital Managment LLC reduced its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT) by 16.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,700 shares of the oil and gas producer’s stock after selling 6,675 shares during the period. EagleClaw Capital Managment LLC owned about 0.07% of Permian Basin Royalty Trust worth $384,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new stake in Permian Basin Royalty Trust during the fourth quarter valued at approximately $27,000. Access Investment Management LLC purchased a new stake in Permian Basin Royalty Trust during the third quarter valued at approximately $97,000. International Assets Investment Management LLC increased its holdings in Permian Basin Royalty Trust by 1,089.0% during the third quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after buying an additional 7,623 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Permian Basin Royalty Trust during the third quarter valued at approximately $110,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Permian Basin Royalty Trust during the fourth quarter valued at approximately $121,000. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Price Performance

Shares of NYSE PBT opened at $9.63 on Friday. The firm has a fifty day moving average price of $11.17 and a 200-day moving average price of $11.58. The stock has a market cap of $448.84 million, a PE ratio of 12.35 and a beta of 0.70. Permian Basin Royalty Trust has a 1 year low of $9.43 and a 1 year high of $14.58.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.0171 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 2.13%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 25.64%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th.

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.