Permian Basin Royalty Trust (NYSE:PBT) Trading Up 4%

Permian Basin Royalty Trust (NYSE:PBT) shares traded up 4% during trading on Monday . The company traded as high as $11.84 and last traded at $11.84. 62,740 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 125,273 shares. The stock had previously closed at $11.39.

Permian Basin Royalty Trust Price Performance

The business has a 50-day moving average price of $11.20 and a 200 day moving average price of $11.81.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings results on Thursday, August 8th. The oil and gas producer reported $0.18 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 15,940.96% and a net margin of 96.28%. The firm had revenue of $8.83 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.052 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.27%. Permian Basin Royalty Trust’s dividend payout ratio is currently 100.00%.

Institutional Trading of Permian Basin Royalty Trust

A number of hedge funds have recently made changes to their positions in the stock. Aristides Capital LLC purchased a new position in Permian Basin Royalty Trust in the 4th quarter worth approximately $163,000. PFG Investments LLC raised its holdings in Permian Basin Royalty Trust by 8.1% in the 2nd quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock worth $210,000 after acquiring an additional 1,400 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Permian Basin Royalty Trust by 5.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock worth $247,000 after acquiring an additional 1,150 shares during the last quarter. Virtu Financial LLC purchased a new position in Permian Basin Royalty Trust in the 1st quarter worth approximately $306,000. Finally, Russell Investments Group Ltd. raised its holdings in Permian Basin Royalty Trust by 18.5% in the 4th quarter. Russell Investments Group Ltd. now owns 28,802 shares of the oil and gas producer’s stock worth $402,000 after acquiring an additional 4,498 shares during the last quarter. 28.86% of the stock is owned by institutional investors.

About Permian Basin Royalty Trust

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.