Mad River Investors Sells 30,089 Shares of Permian Basin Royalty Trust (NYSE:PBT)

Mad River Investors trimmed its position in shares of Permian Basin Royalty Trust (NYSE:PBT) by 10.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 246,293 shares of the oil and gas producer’s stock after selling 30,089 shares during the period. Permian Basin Royalty Trust makes up approximately 1.3% of Mad River Investors’ holdings, making the stock its 14th largest holding. Mad River Investors’ holdings in Permian Basin Royalty Trust were worth $2,729,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PBT. EagleClaw Capital Managment LLC boosted its holdings in shares of Permian Basin Royalty Trust by 2.3% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock valued at $492,000 after acquiring an additional 925 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Permian Basin Royalty Trust by 1,089.0% in the third quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock worth $99,000 after purchasing an additional 7,623 shares during the last quarter. Access Investment Management LLC purchased a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter valued at about $97,000. Prospera Private Wealth LLC purchased a new position in shares of Permian Basin Royalty Trust in the third quarter worth approximately $110,000. Finally, Avondale Wealth Management purchased a new stake in Permian Basin Royalty Trust during the third quarter valued at approximately $113,000. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Up 0.4 %

Permian Basin Royalty Trust stock opened at $11.74 on Tuesday. Permian Basin Royalty Trust has a 1 year low of $10.14 and a 1 year high of $15.79. The firm’s 50 day moving average price is $12.18 and its 200-day moving average price is $11.64.

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.0219 dividend. This represents a $0.26 annualized dividend and a dividend yield of 2.24%. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date was Tuesday, December 31st. Permian Basin Royalty Trust’s payout ratio is 33.33%.

Analyst Ratings Changes

Separately, StockNews.com lowered Permian Basin Royalty Trust from a “buy” rating to a “hold” rating in a research note on Monday, January 6th.

About Permian Basin Royalty Trust

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.