9,500 Shares in Permian Basin Royalty Trust (NYSE:PBT) Bought by Avondale Wealth Management

Avondale Wealth Management bought a new position in Permian Basin Royalty Trust (NYSE:PBT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 9,500 shares of the oil and gas producer’s stock, valued at approximately $113,000.

Other large investors have also recently made changes to their positions in the company. Foundation Resource Management Inc. grew its holdings in shares of Permian Basin Royalty Trust by 0.8% in the first quarter. Foundation Resource Management Inc. now owns 682,634 shares of the oil and gas producer’s stock worth $8,260,000 after purchasing an additional 5,671 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Permian Basin Royalty Trust by 45.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 72,614 shares of the oil and gas producer’s stock valued at $879,000 after purchasing an additional 22,623 shares during the period. Virtu Financial LLC bought a new position in shares of Permian Basin Royalty Trust during the first quarter valued at approximately $306,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Permian Basin Royalty Trust by 5.5% during 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, OFI Invest Asset Management bought a new stake in Permian Basin Royalty Trust during the 2nd quarter valued at $1,303,000. 28.86% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Performance

PBT stock traded up $0.73 during trading on Friday, reaching $12.11. 152,548 shares of the company traded hands, compared to its average volume of 126,391. The company has a market capitalization of $564.43 million, a price-to-earnings ratio of 19.53 and a beta of 0.56. The business has a 50 day simple moving average of $11.29 and a 200 day simple moving average of $11.70. Permian Basin Royalty Trust has a 12 month low of $10.14 and a 12 month high of $21.46.

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 net margin of 96.28% and a return on equity of 15,940.96%. The firm had revenue of $8.83 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.0507 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Monday, September 30th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 96.77%.

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.