Avondale Wealth Management Lowers Holdings in Permian Basin Royalty Trust $PBT

Key Points

• Avondale Wealth Management reduced its holdings in Permian Basin Royalty Trust by 74.1% in Q2, bringing its total to 7,500 shares valued at $93,000.
• Permian Basin Royalty Trust recently announced a monthly dividend of $0.1155 per share, significantly increased from the previous $0.02, resulting in a dividend yield of 7.4%.
• Currently, 28.86% of Permian Basin Royalty Trust’s stock is owned by institutional investors, indicating varied investor interest in the company.

Avondale Wealth Management trimmed its stake in Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 74.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,500 shares of the oil and gas producer's stock after selling 21,500 shares during the quarter. Avondale Wealth Management's holdings in Permian Basin Royalty Trust were worth $93,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its position in shares of Permian Basin Royalty Trust by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 2,446 shares during the last quarter. Sunbelt Securities Inc. grew its position in Permian Basin Royalty Trust by 7,352.9% during the 1st quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer's stock valued at $63,000 after purchasing an additional 6,250 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Permian Basin Royalty Trust by 16.1% during the 4th quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer's stock valued at $128,000 after purchasing an additional 1,623 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Permian Basin Royalty Trust in the second quarter worth about $147,000. Finally, Pekin Hardy Strauss Inc. raised its holdings in Permian Basin Royalty Trust by 19.2% in the first quarter. Pekin Hardy Strauss Inc. now owns 15,500 shares of the oil and gas producer's stock worth $154,000 after buying an additional 2,500 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Stock Performance

Shares of NYSE PBT opened at $18.61 on Monday. The firm's 50 day moving average price is $16.21 and its 200-day moving average price is $12.75. Permian Basin Royalty Trust has a 52-week low of $8.01 and a 52-week high of $19.52. The company has a market cap of $867.18 million, a PE ratio of 51.68 and a beta of 0.69.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share for the quarter. The company had revenue of $3.11 million during the quarter. Permian Basin Royalty Trust had a net margin of 89.90% and a return on equity of 9,737.65%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.1155 per share. This represents a c) annualized dividend and a dividend yield of 7.4%. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, September 30th. Permian Basin Royalty Trust's payout ratio is 55.56%.

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.

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