Permian Basin Royalty Trust (NYSE:PBT) Sees Large Volume Increase – What’s Next?

Permian Basin Royalty Trust (NYSE:PBT) saw strong trading volume on Monday . 75,285 shares were traded during trading, an increase of 20% from the previous session’s volume of 62,712 shares.The stock last traded at $19.82 and had previously closed at $19.32.

Permian Basin Royalty Trust Stock Performance

The business has a 50 day simple moving average of $18.07 and a two-hundred day simple moving average of $17.86. The firm has a market capitalization of $924.26 million, a P/E ratio of 58.33 and a beta of 0.46.

Permian Basin Royalty Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $0.0142 dividend. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a yield of 0.9%. Permian Basin Royalty Trust’s payout ratio is 50.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PBT. Stratos Wealth Partners LTD. grew its holdings in shares of Permian Basin Royalty Trust by 90.3% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 20,270 shares of the oil and gas producer’s stock valued at $253,000 after purchasing an additional 9,620 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Permian Basin Royalty Trust by 4,701.1% during the second quarter. Bessemer Group Inc. now owns 96,021 shares of the oil and gas producer’s stock valued at $1,196,000 after buying an additional 94,021 shares during the last quarter. Clark Asset Management LLC purchased a new position in shares of Permian Basin Royalty Trust in the second quarter worth about $124,000. Access Investment Management LLC bought a new stake in shares of Permian Basin Royalty Trust in the 2nd quarter valued at about $64,000. Finally, Atlas Wealth Partners LLC boosted its holdings in Permian Basin Royalty Trust by 14.5% during the 2nd quarter. Atlas Wealth Partners LLC now owns 77,163 shares of the oil and gas producer’s stock valued at $960,000 after acquiring an additional 9,800 shares during the period. 28.86% of the stock is currently owned by institutional investors.

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.