Permian Basin Royalty Trust (NYSE:PBT) Sees Significant Decline in Short Interest

Permian Basin Royalty Trust (NYSE:PBT) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 172,900 shares, a decline of 28.0% from the August 15th total of 240,100 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average trading volume of 108,800 shares, the days-to-cover ratio is presently 1.6 days.

Permian Basin Royalty Trust Trading Up 1.3 %

Permian Basin Royalty Trust stock traded up $0.15 during midday trading on Friday, reaching $11.39. 60,864 shares of the stock traded hands, compared to its average volume of 125,662. The firm has a fifty day moving average price of $11.18 and a two-hundred day moving average price of $11.83. Permian Basin Royalty Trust has a fifty-two week low of $10.14 and a fifty-two week high of $22.50.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $8.83 million during the quarter. Permian Basin Royalty Trust had a return on equity of 15,940.96% and a net margin of 96.28%.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.052 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date is Friday, August 30th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 100.00%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors have recently bought and sold shares of the stock. OFI Invest Asset Management bought a new position in Permian Basin Royalty Trust during the 2nd quarter valued at $1,303,000. Russell Investments Group Ltd. boosted its stake in Permian Basin Royalty Trust by 18.5% during the fourth quarter. Russell Investments Group Ltd. now owns 28,802 shares of the oil and gas producer’s stock valued at $402,000 after buying an additional 4,498 shares in the last quarter. Beacon Pointe Advisors LLC grew its holdings in Permian Basin Royalty Trust by 2.8% during the fourth quarter. Beacon Pointe Advisors LLC now owns 147,246 shares of the oil and gas producer’s stock worth $2,061,000 after acquiring an additional 4,023 shares during the period. Schwartz Investment Counsel Inc. raised its position in Permian Basin Royalty Trust by 16.1% in the second quarter. Schwartz Investment Counsel Inc. now owns 1,140,169 shares of the oil and gas producer’s stock worth $12,793,000 after acquiring an additional 158,500 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Permian Basin Royalty Trust by 45.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 72,614 shares of the oil and gas producer’s stock valued at $879,000 after acquiring an additional 22,623 shares during the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

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.