Raymond James Financial Inc. Takes $622,000 Position in Permian Basin Royalty Trust (NYSE:PBT)

Raymond James Financial Inc. acquired a new stake in Permian Basin Royalty Trust (NYSE:PBT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 56,180 shares of the oil and gas producer's stock, valued at approximately $622,000. Raymond James Financial Inc. owned 0.12% of Permian Basin Royalty Trust as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avondale Wealth Management lifted its stake 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 during the last quarter. Stratos Wealth Partners LTD. bought a new stake in Permian Basin Royalty Trust during the 4th quarter worth approximately $121,000. Golden State Wealth Management LLC bought a new stake in Permian Basin Royalty Trust in the fourth quarter valued at approximately $27,000. Atlas Wealth Partners LLC increased its position in shares of Permian Basin Royalty Trust by 4.0% during the fourth quarter. Atlas Wealth Partners LLC now owns 66,098 shares of the oil and gas producer's stock worth $730,000 after buying an additional 2,542 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new position in shares of Permian Basin Royalty Trust in the 4th quarter worth about $127,000. Institutional investors and hedge funds own 28.86% of the company's stock.

Wall Street Analysts Forecast Growth

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

Permian Basin Royalty Trust Stock Performance

Permian Basin Royalty Trust stock traded up $0.29 during midday trading on Tuesday, hitting $10.41. 25,808 shares of the company's stock were exchanged, compared to its average volume of 112,939. The stock has a 50-day moving average price of $9.81 and a two-hundred day moving average price of $11.01. The company has a market cap of $485.20 million, a P/E ratio of 13.35 and a beta of 0.56. Permian Basin Royalty Trust has a 52-week low of $8.01 and a 52-week high of $14.26.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its earnings results on Friday, March 14th. The oil and gas producer reported $0.08 earnings per share for the quarter. The firm had revenue of $3.79 million for the quarter. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%.

Permian Basin Royalty Trust Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, May 14th. Investors of record on Thursday, May 1st will be paid a dividend of $0.0196 per share. This represents a yield of 2.35%. The ex-dividend date is Wednesday, April 30th. Permian Basin Royalty Trust's payout ratio is 41.82%.

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.