Permian Basin Royalty Trust (NYSE:PBT) Sees Large Drop in Short Interest

Permian Basin Royalty Trust (NYSE:PBT) saw a large decline in short interest during 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 stock are short sold. Based on an average daily trading volume, of 108,800 shares, the days-to-cover ratio is presently 1.6 days.

Permian Basin Royalty Trust Trading Up 2.2 %

PBT stock traded up $0.25 during midday trading on Monday, hitting $11.64. The company had a trading volume of 116,779 shares, compared to its average volume of 125,588. Permian Basin Royalty Trust has a 52 week low of $10.14 and a 52 week high of $22.50. The stock has a market cap of $542.53 million, a price-to-earnings ratio of 18.79 and a beta of 0.56. The stock’s 50 day moving average price is $11.18 and its 200 day moving average price is $11.83.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.18 earnings per share for the quarter. The company had revenue of $8.83 million for 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 5.36%. The ex-dividend date of this dividend is Friday, August 30th. Permian Basin Royalty Trust’s payout ratio is currently 100.00%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. lifted its stake in shares of Permian Basin Royalty Trust by 23.3% in the 2nd quarter. Moors & Cabot Inc. now owns 460,087 shares of the oil and gas producer’s stock valued at $5,181,000 after purchasing an additional 87,080 shares during the last quarter. PFG Investments LLC grew its stake in Permian Basin Royalty Trust by 8.1% during the 2nd quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock worth $210,000 after buying an additional 1,400 shares during the last quarter. Mad River Investors grew its stake in Permian Basin Royalty Trust by 4.6% during the 2nd quarter. Mad River Investors now owns 264,173 shares of the oil and gas producer’s stock worth $2,975,000 after buying an additional 11,726 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in Permian Basin Royalty Trust by 3.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock valued at $849,000 after purchasing an additional 2,761 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. grew its stake in Permian Basin Royalty Trust by 16.1% during the 2nd quarter. Schwartz Investment Counsel Inc. now owns 1,140,169 shares of the oil and gas producer’s stock valued at $12,793,000 after purchasing an additional 158,500 shares during the last quarter. Institutional investors 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.