Permian Basin Royalty Trust (NYSE:PBT) Stock Price Up 4.6% – Should You Buy?

Permian Basin Royalty Trust (NYSE:PBT) traded up 4.6% during mid-day trading on Tuesday . The company traded as high as $12.76 and last traded at $12.75. 68,753 shares were traded during trading, a decline of 45% from the average session volume of 125,521 shares. The stock had previously closed at $12.19.

Permian Basin Royalty Trust Trading Up 2.4 %

The stock has a fifty day moving average of $11.54 and a 200-day moving average of $11.58.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, October 31st. Permian Basin Royalty Trust’s dividend payout ratio is currently 46.15%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors have recently added to or reduced their stakes in the business. Access Investment Management LLC purchased a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at approximately $97,000. International Assets Investment Management LLC boosted its holdings in Permian Basin Royalty Trust by 1,089.0% in the 3rd quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after purchasing an additional 7,623 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at approximately $110,000. Avondale Wealth Management purchased a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at approximately $113,000. Finally, Flow Traders U.S. LLC purchased a new stake in Permian Basin Royalty Trust in the 3rd quarter valued at approximately $167,000. Hedge funds and other 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.