Permian Basin Royalty Trust (NYSE:PBT) Stock Short Interest Rises 535.1%

Permian Basin Royalty Trust (NYSE:PBT) saw a significant increase in short interest in October. As of October 15th, there was short interest totaling 1,764,223 shares, an increase of 535.1% from the September 30th total of 277,800 shares. Based on an average daily trading volume, of 307,439 shares, the short-interest ratio is presently 5.7 days. Currently, 3.8% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings raised Permian Basin Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Permian Basin Royalty Trust currently has a consensus rating of “Hold”.

Institutional Trading of Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Post Resch Tallon Group Inc. grew its position in shares of Permian Basin Royalty Trust by 10.2% during the 3rd quarter. Post Resch Tallon Group Inc. now owns 9,261 shares of the oil and gas producer’s stock worth $292,000 after buying an additional 859 shares during the period. CX Institutional raised its position in shares of Permian Basin Royalty Trust by 31.5% in the 3rd quarter. CX Institutional now owns 2,773 shares of the oil and gas producer’s stock valued at $87,000 after acquiring an additional 664 shares during the period. Tidal Investments LLC acquired a new stake in shares of Permian Basin Royalty Trust in the 2nd quarter valued at approximately $211,000. Integrated Wealth Concepts LLC bought a new position in Permian Basin Royalty Trust during the 2nd quarter worth approximately $114,000. Finally, NewEdge Advisors LLC boosted its stake in Permian Basin Royalty Trust by 25.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock worth $87,000 after acquiring an additional 701 shares during the last quarter. Institutional investors own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Performance

Shares of Permian Basin Royalty Trust stock traded down $0.27 on Tuesday, reaching $33.33. The stock had a trading volume of 14,515 shares, compared to its average volume of 133,148. The business’s 50-day moving average price is $33.96 and its two-hundred day moving average price is $26.47. The stock has a market cap of $1.55 billion, a P/E ratio of 95.21 and a beta of 0.56. Permian Basin Royalty Trust has a fifty-two week low of $16.25 and a fifty-two week high of $37.00.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $4.18 million for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,990.08%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be paid a $0.0452 dividend. The ex-dividend date is Friday, October 30th. This is a boost from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.6%. Permian Basin Royalty Trust’s dividend payout ratio is presently 68.57%.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not explore for, develop, or operate properties itself. Instead, it receives proceeds generated from the production and sale of hydrocarbons from properties in which it owns royalty or net profits interests.

The trust’s principal interests include properties associated with the Waddell Ranch in Texas, as well as additional Texas royalty properties.