Permian Basin Royalty Trust (NYSE:PBT) Stock Price Down 2.2% – Time to Sell?

Permian Basin Royalty Trust (NYSE:PBT)’s share price traded down 2.2% during trading on Thursday . The company traded as low as $10.90 and last traded at $10.97. 46,529 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 132,728 shares. The stock had previously closed at $11.22.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th.

Permian Basin Royalty Trust Price Performance

The company has a 50 day moving average of $12.14 and a two-hundred day moving average of $11.62. The company has a market capitalization of $497.33 million, a PE ratio of 13.68 and a beta of 0.66.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.0219 per share. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a $0.26 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Tuesday, December 31st. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 33.33%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several large investors have recently made changes to their positions in PBT. Schwartz Investment Counsel Inc. raised its position in shares of Permian Basin Royalty Trust by 23.0% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock worth $16,647,000 after purchasing an additional 262,233 shares during the last quarter. Moors & Cabot Inc. raised its holdings in Permian Basin Royalty Trust by 16.3% in the third quarter. Moors & Cabot Inc. now owns 535,151 shares of the oil and gas producer’s stock worth $6,363,000 after buying an additional 75,064 shares during the last quarter. Mad River Investors lifted its stake in shares of Permian Basin Royalty Trust by 4.6% in the third quarter. Mad River Investors now owns 276,382 shares of the oil and gas producer’s stock worth $3,286,000 after buying an additional 12,209 shares in the last quarter. BWM Planning LLC purchased a new stake in shares of Permian Basin Royalty Trust during the third quarter valued at approximately $1,233,000. Finally, Commonwealth Equity Services LLC increased its position in shares of Permian Basin Royalty Trust by 3.8% during the second quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock valued at $849,000 after acquiring an additional 2,761 shares in the last quarter. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

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.