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

Permian Basin Royalty Trust (NYSE:PBT) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 288,002 shares, a growth of 106.3% from the July 15th total of 139,629 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 105,060 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of Permian Basin Royalty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SoftVest Advisors LLC boosted its stake in shares of Permian Basin Royalty Trust by 40.1% in the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock valued at $77,335,000 after purchasing an additional 1,776,929 shares during the period. Horizon Kinetics Asset Management LLC lifted its holdings in Permian Basin Royalty Trust by 1.5% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock worth $105,069,000 after buying an additional 88,751 shares in the last quarter. Mad River Investors lifted its holdings in Permian Basin Royalty Trust by 1.7% during the 1st quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock worth $21,588,000 after buying an additional 16,321 shares in the last quarter. Moors & Cabot Inc. boosted its position in Permian Basin Royalty Trust by 10.5% in the 4th quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock valued at $9,946,000 after buying an additional 55,456 shares during the period. Finally, Sei Investments Co. boosted its position in Permian Basin Royalty Trust by 116.0% in the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock valued at $9,081,000 after buying an additional 226,600 shares during the period. 28.86% of the stock is currently owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Stock Down 2.5%

NYSE PBT traded down $0.83 on Friday, reaching $32.66. The stock had a trading volume of 141,433 shares, compared to its average volume of 153,221. The stock has a fifty day moving average price of $28.14 and a two-hundred day moving average price of $24.46. Permian Basin Royalty Trust has a 12-month low of $14.81 and a 12-month high of $35.42. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 93.33 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. The business had revenue of $4.18 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,980.02% and a net margin of 91.96%.

Permian Basin Royalty Trust Increases Dividend

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

Analyst Ratings Changes

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

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.