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

Permian Basin Royalty Trust (NYSE:PBT) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 239,832 shares, an increase of 224.4% from the April 30th total of 73,927 shares. Based on an average trading volume of 265,415 shares, the short-interest ratio is currently 0.9 days. Currently, 0.5% of the shares of the company are short sold.

Permian Basin Royalty Trust Stock Performance

Shares of PBT stock traded down $1.48 during trading on Friday, hitting $28.17. The company had a trading volume of 122,394 shares, compared to its average volume of 242,386. The firm has a market capitalization of $1.31 billion, a P/E ratio of 88.02 and a beta of 0.42. The stock’s 50-day moving average price is $24.11 and its 200 day moving average price is $20.53. Permian Basin Royalty Trust has a one year low of $10.80 and a one year high of $32.25.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $3.57 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a $0.0204 dividend. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, May 29th. Permian Basin Royalty Trust’s payout ratio is 75.00%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Permian Basin Royalty Trust has a consensus rating of “Hold”.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors have recently made changes to their positions in the stock. SoftVest Advisors LLC lifted its stake in Permian Basin Royalty Trust by 40.1% during the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock worth $77,335,000 after purchasing an additional 1,776,929 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its stake in Permian Basin Royalty Trust by 1.5% during the fourth 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 purchasing an additional 88,751 shares during the last quarter. Mad River Investors lifted its stake in Permian Basin Royalty Trust by 1.7% during the first quarter. Mad River Investors now owns 1,003,140 shares of the oil and gas producer’s stock worth $21,588,000 after purchasing an additional 16,321 shares during the last quarter. Moors & Cabot Inc. lifted its stake in Permian Basin Royalty Trust by 10.5% during the fourth quarter. Moors & Cabot Inc. now owns 585,746 shares of the oil and gas producer’s stock worth $9,946,000 after purchasing an additional 55,456 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Permian Basin Royalty Trust by 116.0% during the first quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock worth $9,081,000 after purchasing an additional 226,600 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors.

About Permian Basin Royalty Trust

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.