Raymond James & Associates Has $734,000 Position in Permian Basin Royalty Trust (NYSE:PBT)

Raymond James & Associates lessened its stake in shares of Permian Basin Royalty Trust (NYSE:PBT) by 24.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 52,605 shares of the oil and gas producer’s stock after selling 16,695 shares during the quarter. Raymond James & Associates’ holdings in Permian Basin Royalty Trust were worth $734,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC lifted its position in Permian Basin Royalty Trust by 222.0% during the third quarter. Global Retirement Partners LLC now owns 2,618 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,805 shares during the last quarter. Waverly Advisors LLC lifted its holdings in Permian Basin Royalty Trust by 30.4% during the 3rd quarter. Waverly Advisors LLC now owns 12,867 shares of the oil and gas producer’s stock worth $273,000 after purchasing an additional 3,001 shares during the last quarter. Ingalls & Snyder LLC bought a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at $287,000. Sowell Financial Services LLC acquired a new position in Permian Basin Royalty Trust in the 3rd quarter valued at $421,000. Finally, Lagoda Investment Management L.P. increased its position in Permian Basin Royalty Trust by 4.2% during the 3rd quarter. Lagoda Investment Management L.P. now owns 27,250 shares of the oil and gas producer’s stock worth $579,000 after buying an additional 1,100 shares during the period. Institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Performance

PBT opened at $12.50 on Wednesday. The stock has a fifty day moving average of $12.68 and a 200-day moving average of $15.15. Permian Basin Royalty Trust has a fifty-two week low of $10.95 and a fifty-two week high of $27.15. The company has a market capitalization of $582.61 million, a P/E ratio of 20.83 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $0.31 earnings per share for the quarter. Permian Basin Royalty Trust had a net margin of 96.16% and a return on equity of 13,667.19%. The business had revenue of $14.44 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.0882 per share. The ex-dividend date is Monday, April 29th. This represents a $1.06 dividend on an annualized basis and a yield of 8.47%. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.04. Permian Basin Royalty Trust’s dividend payout ratio is currently 175.00%.

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.