Permian Basin Royalty Trust (NYSE:PBT) Trading Down 5.2% – What’s Next?

Permian Basin Royalty Trust (NYSE:PBT)’s stock price traded down 5.2% during trading on Tuesday . The company traded as low as $17.51 and last traded at $17.5890. 48,882 shares traded hands during trading, a decline of 65% from the average session volume of 137,948 shares. The stock had previously closed at $18.55.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Permian Basin Royalty Trust Price Performance

The company has a market cap of $825.68 million, a P/E ratio of 49.21 and a beta of 0.59. The company’s 50-day moving average price is $18.22 and its 200-day moving average price is $15.19.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.The company had revenue of $7.27 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.0192 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 28th. Permian Basin Royalty Trust’s payout ratio is currently 67.65%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Hedge funds have recently bought and sold shares of the business. State of Wyoming lifted its position in shares of Permian Basin Royalty Trust by 72.8% during the 1st quarter. State of Wyoming now owns 31,113 shares of the oil and gas producer’s stock valued at $308,000 after acquiring an additional 13,105 shares during the period. Promethium Advisors LLC grew its stake in Permian Basin Royalty Trust by 46.4% during the first quarter. Promethium Advisors LLC now owns 131,829 shares of the oil and gas producer’s stock worth $1,306,000 after buying an additional 41,797 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Permian Basin Royalty Trust in the 2nd quarter valued at about $147,000. Stratos Wealth Partners LTD. raised its position in shares of Permian Basin Royalty Trust by 90.3% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 20,270 shares of the oil and gas producer’s stock valued at $253,000 after buying an additional 9,620 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Permian Basin Royalty Trust by 4,701.1% in the 2nd quarter. Bessemer Group Inc. now owns 96,021 shares of the oil and gas producer’s stock valued at $1,196,000 after buying an additional 94,021 shares in the last quarter. 28.86% of the stock is owned by institutional investors.

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.