Permian Basin Royalty Trust (NYSE:PBT) Shares Up 4%

Permian Basin Royalty Trust (NYSE:PBT) shares rose 4% during trading on Monday . The stock traded as high as $11.84 and last traded at $11.84. Approximately 62,740 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 125,273 shares. The stock had previously closed at $11.39.

Permian Basin Royalty Trust Trading Up 2.3 %

The firm has a fifty day simple moving average of $11.18 and a two-hundred day simple moving average of $11.83. The firm has a market cap of $542.99 million, a PE ratio of 18.37 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $8.83 million during the quarter. Permian Basin Royalty Trust had a net margin of 96.28% and a return on equity of 15,940.96%.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid 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 is Friday, August 30th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 100.00%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. 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 acquiring an additional 158,500 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Permian Basin Royalty Trust in the second quarter valued at $1,303,000. Moors & Cabot Inc. grew its holdings in shares of Permian Basin Royalty Trust by 23.3% during the second quarter. Moors & Cabot Inc. now owns 460,087 shares of the oil and gas producer’s stock worth $5,181,000 after purchasing an additional 87,080 shares during the last quarter. Virtu Financial LLC acquired a new position in Permian Basin Royalty Trust during the first quarter worth $306,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Permian Basin Royalty Trust by 45.3% in the first quarter. Commonwealth Equity Services LLC now owns 72,614 shares of the oil and gas producer’s stock valued at $879,000 after acquiring an additional 22,623 shares during the period. Institutional investors and hedge funds own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

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.