Permian Basin Royalty Trust (NYSE:PBT) Short Interest Update

Permian Basin Royalty Trust (NYSE:PBT) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 288,002 shares, an increase of 106.3% from the July 15th total of 139,629 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 105,060 shares, the short-interest ratio is presently 2.7 days.

Permian Basin Royalty Trust Stock Down 0.1%

Shares of Permian Basin Royalty Trust stock opened at $32.66 on Monday. Permian Basin Royalty Trust has a 52-week low of $14.81 and a 52-week high of $35.42. The company has a market capitalization of $1.52 billion, a P/E ratio of 93.33 and a beta of 0.48. The company has a 50 day moving average of $28.14 and a 200 day moving average of $24.50.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%. The company had revenue of $4.18 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.0436 per share. The ex-dividend date was Friday, July 31st. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. Permian Basin Royalty Trust’s payout ratio is presently 148.57%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Large investors have recently bought and sold shares of the business. Kestra Advisory Services LLC purchased a new stake in Permian Basin Royalty Trust during the 4th quarter worth about $28,000. CX Institutional boosted its position in shares of Permian Basin Royalty Trust by 80.3% during the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock worth $53,000 after acquiring an additional 939 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Permian Basin Royalty Trust by 53.1% in the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after acquiring an additional 1,304 shares during the last quarter. Post Resch Tallon Group Inc. purchased a new position in shares of Permian Basin Royalty Trust in the 2nd quarter valued at about $210,000. Finally, Royal Bank of Canada raised its position in shares of Permian Basin Royalty Trust by 6.0% during the 4th quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock worth $166,000 after acquiring an additional 558 shares in the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust (NYSE: PBT) is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.