Raymond James Financial Inc. Purchases Shares of 56,180 Permian Basin Royalty Trust (NYSE:PBT)

Raymond James Financial Inc. acquired a new position in Permian Basin Royalty Trust (NYSE:PBT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 56,180 shares of the oil and gas producer’s stock, valued at approximately $622,000.

A number of other large investors also recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new stake in shares of Permian Basin Royalty Trust in the 4th quarter worth $27,000. Stratos Wealth Partners LTD. bought a new stake in Permian Basin Royalty Trust in the 4th quarter worth about $121,000. Atria Wealth Solutions Inc. purchased a new stake in Permian Basin Royalty Trust in the 4th quarter valued at about $127,000. Avondale Wealth Management lifted its position in shares of Permian Basin Royalty Trust by 100.0% during the 4th quarter. Avondale Wealth Management now owns 19,000 shares of the oil and gas producer’s stock worth $211,000 after buying an additional 9,500 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Permian Basin Royalty Trust by 45.2% in 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 buying an additional 9,179 shares during the last quarter. Institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Price Performance

NYSE PBT opened at $9.04 on Monday. The business’s fifty day moving average is $10.50 and its 200-day moving average is $11.41. The stock has a market capitalization of $421.49 million, a price-to-earnings ratio of 11.59 and a beta of 0.58. Permian Basin Royalty Trust has a one year low of $8.69 and a one year high of $14.26.

Permian Basin Royalty Trust (NYSE:PBT) last announced 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 net margin of 96.32% and a return on equity of 17,811.24%. 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. Investors of record on Monday, March 31st will be paid a $0.018 dividend. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.22 annualized dividend and a yield of 2.39%. Permian Basin Royalty Trust’s dividend payout ratio is presently 38.18%.

Analyst Upgrades and Downgrades

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

Permian Basin Royalty Trust Company 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.