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

Avondale Wealth Management boosted its holdings in Permian Basin Royalty Trust (NYSE:PBT) by 100.0% in the 4th quarter, according to the company in its most recent filing with the Securities and 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 quarter. Avondale Wealth Management’s holdings in Permian Basin Royalty Trust were worth $211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBT. Access Investment Management LLC acquired a new position in shares of Permian Basin Royalty Trust during the third quarter valued at about $97,000. International Assets Investment Management LLC lifted its position in Permian Basin Royalty Trust by 1,089.0% in the 3rd quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after acquiring an additional 7,623 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Permian Basin Royalty Trust during the 3rd quarter valued at about $110,000. Flow Traders U.S. LLC bought a new stake in Permian Basin Royalty Trust during the 3rd quarter worth approximately $167,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Permian Basin Royalty Trust in the third quarter worth approximately $180,000. Institutional investors own 28.86% of the company’s stock.

Analyst Upgrades and Downgrades

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

Permian Basin Royalty Trust Price Performance

Shares of PBT stock traded up $0.28 on Friday, hitting $11.86. The stock had a trading volume of 44,342 shares, compared to its average volume of 140,355. Permian Basin Royalty Trust has a 12-month low of $10.14 and a 12-month high of $15.79. The stock has a market cap of $552.79 million, a price-to-earnings ratio of 15.21 and a beta of 0.70. The business has a 50 day moving average of $12.08 and a 200 day moving average of $11.60.

Permian Basin Royalty Trust Increases Dividend

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

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.