Avondale Wealth Management Has $211,000 Holdings in Permian Basin Royalty Trust (NYSE:PBT)

Avondale Wealth Management boosted its stake in Permian Basin Royalty Trust (NYSE:PBT) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,000 shares of the oil and gas producer’s stock after purchasing an additional 9,500 shares during the period. Avondale Wealth Management’s holdings in Permian Basin Royalty Trust were worth $211,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Schwartz Investment Counsel Inc. boosted its stake in shares of Permian Basin Royalty Trust by 23.0% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock valued at $16,647,000 after purchasing an additional 262,233 shares during the last quarter. BWM Planning LLC acquired a new position in Permian Basin Royalty Trust in the third quarter valued at $1,233,000. Moors & Cabot Inc. boosted its position in Permian Basin Royalty Trust by 23.3% during the second quarter. Moors & Cabot Inc. now owns 460,087 shares of the oil and gas producer’s stock valued at $5,181,000 after acquiring an additional 87,080 shares during the last quarter. Independent Advisor Alliance acquired a new stake in Permian Basin Royalty Trust during the 3rd quarter worth about $837,000. Finally, Atlas Wealth Partners LLC bought a new position in shares of Permian Basin Royalty Trust in the 3rd quarter worth about $758,000. 28.86% of the stock is owned by institutional investors.

Permian Basin Royalty Trust Stock Performance

Shares of PBT stock traded up $0.28 during trading hours on Friday, hitting $11.86. 44,342 shares of the company were exchanged, compared to its average volume of 140,355. Permian Basin Royalty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $15.79. The company has a 50 day simple moving average of $12.08 and a two-hundred day simple moving average of $11.60. The firm has a market cap of $552.79 million, a P/E ratio of 15.21 and a beta of 0.70.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.0219 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 2.22%. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date is Tuesday, December 31st. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

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

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.