Commonwealth Equity Services LLC Raises Stake in Permian Basin Royalty Trust (NYSE:PBT)

Commonwealth Equity Services LLC increased its holdings in shares of Permian Basin Royalty Trust (NYSE:PBT - Free Report) by 87.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 220,527 shares of the oil and gas producer's stock after buying an additional 102,568 shares during the period. Commonwealth Equity Services LLC owned about 0.47% of Permian Basin Royalty Trust worth $2,443,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PBT. Moors & Cabot Inc. increased its stake in shares of Permian Basin Royalty Trust by 11.0% during the fourth quarter. Moors & Cabot Inc. now owns 594,221 shares of the oil and gas producer's stock worth $6,584,000 after buying an additional 59,070 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at $1,327,000. Raymond James Financial Inc. purchased a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth $622,000. Steward Partners Investment Advisory LLC grew its stake in shares of Permian Basin Royalty Trust by 45.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 29,467 shares of the oil and gas producer's stock worth $326,000 after purchasing an additional 9,179 shares in the last quarter. Finally, Hosking Partners LLP increased its holdings in Permian Basin Royalty Trust by 28.3% in the fourth quarter. Hosking Partners LLP now owns 307,551 shares of the oil and gas producer's stock valued at $3,408,000 after buying an additional 67,858 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

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

Permian Basin Royalty Trust Stock Down 0.1 %

PBT traded down $0.01 on Friday, reaching $9.95. The company's stock had a trading volume of 45,608 shares, compared to its average volume of 129,175. The company has a market capitalization of $463.81 million, a price-to-earnings ratio of 12.76 and a beta of 0.72. Permian Basin Royalty Trust has a fifty-two week low of $9.43 and a fifty-two week high of $14.26. The stock has a 50 day moving average of $10.69 and a two-hundred day moving average of $11.47.

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

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.018 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from Permian Basin Royalty Trust's previous monthly dividend of $0.02. Permian Basin Royalty Trust's payout ratio is 38.18%.

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.