Permian Basin Royalty Trust (NYSE:PBT) Short Interest Down 20.6% in October

Permian Basin Royalty Trust (NYSE:PBT) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 162,200 shares, a drop of 20.6% from the September 30th total of 204,400 shares. Based on an average daily volume of 112,700 shares, the short-interest ratio is presently 1.4 days. Currently, 0.4% of the company’s stock are short sold.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Permian Basin Royalty Trust by 5.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock worth $247,000 after acquiring an additional 1,150 shares during the last quarter. PFG Investments LLC raised its position in shares of Permian Basin Royalty Trust by 8.1% in the second quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock valued at $210,000 after purchasing an additional 1,400 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Permian Basin Royalty Trust by 3.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock worth $849,000 after buying an additional 2,761 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Permian Basin Royalty Trust by 1,089.0% during the 3rd quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock worth $99,000 after buying an additional 7,623 shares during the period. Finally, Avondale Wealth Management acquired a new position in Permian Basin Royalty Trust in the 3rd quarter valued at about $113,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Performance

PBT traded up $0.09 on Friday, hitting $11.72. 85,053 shares of the company were exchanged, compared to its average volume of 125,428. The stock’s fifty day moving average is $11.45 and its 200-day moving average is $11.64. Permian Basin Royalty Trust has a 12 month low of $10.14 and a 12 month high of $20.34.

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

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.03 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.36 annualized dividend and a yield of 3.07%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 89.71%.

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.