Commonwealth Equity Services LLC Boosts Stake in Permian Basin Royalty Trust (NYSE:PBT)

Commonwealth Equity Services LLC boosted its holdings in Permian Basin Royalty Trust (NYSE:PBT) by 87.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 220,527 shares of the oil and gas producer’s stock after acquiring an additional 102,568 shares during the quarter. Commonwealth Equity Services LLC owned about 0.47% of Permian Basin Royalty Trust worth $2,443,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PBT. Independent Advisor Alliance purchased a new position in shares of Permian Basin Royalty Trust in the 3rd quarter valued at about $837,000. Flow Traders U.S. LLC acquired a new position in Permian Basin Royalty Trust during the third quarter worth $167,000. Avondale Wealth Management boosted its position in Permian Basin Royalty Trust by 100.0% during the fourth quarter. Avondale Wealth Management now owns 19,000 shares of the oil and gas producer’s stock worth $211,000 after purchasing an additional 9,500 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Permian Basin Royalty Trust in the fourth quarter valued at $121,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Permian Basin Royalty Trust in the fourth quarter valued at $27,000. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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 Stock Performance

PBT stock opened at $10.06 on Thursday. The stock’s 50 day moving average price is $10.76 and its 200 day moving average price is $11.48. The firm has a market cap of $468.84 million, a P/E ratio of 12.90 and a beta of 0.72. Permian Basin Royalty Trust has a 1 year low of $9.43 and a 1 year high of $14.26.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings data on Friday, March 14th. The oil and gas producer reported $0.08 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 17,811.24% and a net margin of 96.32%. The business had revenue of $3.79 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a $0.018 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Monday, March 31st. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s payout ratio is currently 38.18%.

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.