Schwartz Investment Counsel Inc. Purchases 262,233 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Schwartz Investment Counsel Inc. raised its position in Permian Basin Royalty Trust (NYSE:PBT) by 23.0% during the third quarter, Holdings Channel reports. The fund owned 1,402,402 shares of the oil and gas producer’s stock after acquiring an additional 262,233 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Permian Basin Royalty Trust were worth $16,647,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in Permian Basin Royalty Trust in the second quarter valued at about $1,303,000. Commonwealth Equity Services LLC raised its stake in shares of 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 worth $879,000 after buying an additional 22,623 shares during the period. Atlas Wealth Partners LLC bought a new position in shares of Permian Basin Royalty Trust in the third quarter worth about $758,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Permian Basin Royalty Trust by 5.5% in 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 buying an additional 1,150 shares during the period. Finally, Ironwood Financial llc bought a new position in shares of Permian Basin Royalty Trust in the third quarter worth about $220,000. Institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Down 0.8 %

NYSE PBT opened at $11.63 on Friday. The stock’s 50-day moving average price is $11.44 and its 200-day moving average price is $11.66. Permian Basin Royalty Trust has a 52 week low of $10.14 and a 52 week high of $20.34.

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

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.03 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, October 31st. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 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.