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

Commonwealth Equity Services LLC grew its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 87.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 220,527 shares of the oil and gas producer’s stock after buying an additional 102,568 shares during the period. Commonwealth Equity Services LLC’s holdings in Permian Basin Royalty Trust were worth $2,443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Hosking Partners LLP grew its position in Permian Basin Royalty Trust by 28.3% during the fourth quarter. Hosking Partners LLP now owns 307,551 shares of the oil and gas producer’s stock valued at $3,408,000 after acquiring an additional 67,858 shares during the period. Steward Partners Investment Advisory LLC increased its position in Permian Basin Royalty Trust by 45.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,467 shares of the oil and gas producer’s stock worth $326,000 after purchasing an additional 9,179 shares in the last quarter. OFI Invest Asset Management purchased a new position in Permian Basin Royalty Trust in the fourth quarter valued at approximately $1,327,000. Atria Wealth Solutions Inc. acquired a new position in Permian Basin Royalty Trust during the fourth quarter valued at approximately $127,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Permian Basin Royalty Trust during the fourth quarter worth approximately $121,000. 28.86% of the stock is currently owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Price Performance

Shares of NYSE PBT opened at $10.06 on Thursday. The company has a market capitalization of $468.84 million, a price-to-earnings 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. The business has a 50-day moving average of $10.76 and a 200-day moving average of $11.48.

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

Permian Basin Royalty Trust Increases Dividend

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

Wall Street Analyst Weigh In

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

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.