Permian Basin Royalty Trust (NYSE:PBT) Shares Down 2.2% – Should You Sell?

Permian Basin Royalty Trust (NYSE:PBT) traded down 2.2% during trading on Thursday . The stock traded as low as $10.90 and last traded at $10.97. 46,529 shares were traded 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.

Analysts Set New Price Targets

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

Permian Basin Royalty Trust Price Performance

The firm has a 50-day simple moving average of $12.09 and a two-hundred day simple moving average of $11.60. The company has a market cap of $488.94 million, a PE ratio of 13.45 and a beta of 0.66.

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.0219 dividend. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 2.51%. Permian Basin Royalty Trust’s payout ratio is presently 33.33%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Hedge funds have recently modified their holdings of the company. Schwartz Investment Counsel Inc. raised its position in shares of Permian Basin Royalty Trust by 23.0% in the third quarter. Schwartz Investment Counsel Inc. now owns 1,402,402 shares of the oil and gas producer’s stock valued at $16,647,000 after buying 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 3rd quarter. Moors & Cabot Inc. now owns 535,151 shares of the oil and gas producer’s stock valued at $6,363,000 after acquiring 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% during the 3rd quarter. Mad River Investors now owns 276,382 shares of the oil and gas producer’s stock worth $3,286,000 after purchasing an additional 12,209 shares during the period. BWM Planning LLC purchased a new position in shares of Permian Basin Royalty Trust during the 3rd quarter worth $1,233,000. Finally, Commonwealth Equity Services LLC boosted its holdings 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 worth $849,000 after purchasing an additional 2,761 shares during the last quarter. 28.86% of the stock is owned by institutional investors and hedge funds.

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.