Permian Basin Royalty Trust (NYSE:PBT) Sees Large Drop in Short Interest

Permian Basin Royalty Trust (NYSE:PBT) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 147,500 shares, a decrease of 19.7% from the March 31st total of 183,800 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 144,700 shares, the short-interest ratio is presently 1.0 days.

Permian Basin Royalty Trust Stock Down 1.0 %

Shares of NYSE PBT traded down $0.12 during midday trading on Monday, hitting $12.08. The stock had a trading volume of 103,760 shares, compared to its average volume of 144,429. Permian Basin Royalty Trust has a 1-year low of $10.95 and a 1-year high of $25.62. The company has a fifty day moving average price of $12.57 and a 200 day moving average price of $14.91. The company has a market capitalization of $562.82 million, a price-to-earnings ratio of 20.13 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter. The firm had revenue of $14.44 million during the quarter. Permian Basin Royalty Trust had a return on equity of 13,667.19% and a net margin of 96.16%.

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.0882 per share. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.04. This represents a $1.06 annualized dividend and a dividend yield of 8.77%. The ex-dividend date is Monday, April 29th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 83.33%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Schwartz Investment Counsel Inc. lifted its holdings in Permian Basin Royalty Trust by 40.6% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 803,849 shares of the oil and gas producer’s stock worth $11,254,000 after buying an additional 232,000 shares in the last quarter. Foundation Resource Management Inc. lifted its stake in shares of Permian Basin Royalty Trust by 0.8% in the first quarter. Foundation Resource Management Inc. now owns 682,634 shares of the oil and gas producer’s stock worth $8,260,000 after acquiring an additional 5,671 shares in the last quarter. UBS Group AG boosted its holdings in Permian Basin Royalty Trust by 1.5% in the third quarter. UBS Group AG now owns 479,363 shares of the oil and gas producer’s stock valued at $10,186,000 after purchasing an additional 7,142 shares during the last quarter. Hosking Partners LLP boosted its holdings in Permian Basin Royalty Trust by 6.0% in the third quarter. Hosking Partners LLP now owns 470,891 shares of the oil and gas producer’s stock valued at $10,006,000 after purchasing an additional 26,826 shares during the last quarter. Finally, Moors & Cabot Inc. grew its stake in Permian Basin Royalty Trust by 9.7% during the 3rd quarter. Moors & Cabot Inc. now owns 217,741 shares of the oil and gas producer’s stock valued at $4,627,000 after purchasing an additional 19,267 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, 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.