Permian Basin Royalty Trust (NYSE:PBT) Sees Strong Trading Volume

Permian Basin Royalty Trust (NYSE:PBT) saw strong trading volume on Friday . 67,418 shares were traded during trading, a decline of 56% from the previous session’s volume of 154,000 shares.The stock last traded at $20.35 and had previously closed at $20.49.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Permian Basin Royalty Trust in a research report on Thursday, August 17th. They issued a “hold” rating on the stock.

Permian Basin Royalty Trust Trading Up 3.2 %

The firm has a market cap of $985.31 million, a P/E ratio of 18.71 and a beta of 0.86. The business’s fifty day simple moving average is $23.33 and its 200-day simple moving average is $24.08.

Permian Basin Royalty Trust (NYSE:PBT) last announced its earnings results on Wednesday, August 9th. The oil and gas producer reported $0.12 earnings per share for the quarter. The firm had revenue of $6.10 million for the quarter. Permian Basin Royalty Trust had a net margin of 97.93% and a return on equity of 20,615.65%.

Permian Basin Royalty Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.30 annualized dividend and a yield of 1.42%. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s payout ratio is presently 25.66%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several hedge funds have recently bought and sold shares of the business. Horizon Kinetics Asset Management LLC raised its holdings in shares of Permian Basin Royalty Trust by 21.7% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 3,744,689 shares of the oil and gas producer’s stock valued at $94,366,000 after purchasing an additional 668,841 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its position in shares of Permian Basin Royalty Trust by 378.8% in the first quarter. Schwartz Investment Counsel Inc. now owns 439,978 shares of the oil and gas producer’s stock worth $10,735,000 after purchasing an additional 348,085 shares during the period. UBS Group AG boosted its position in shares of Permian Basin Royalty Trust by 139.7% during the fourth quarter. UBS Group AG now owns 573,688 shares of the oil and gas producer’s stock worth $14,457,000 after acquiring an additional 334,380 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Permian Basin Royalty Trust during the first quarter worth $1,934,000. Finally, Morgan Stanley boosted its position in shares of Permian Basin Royalty Trust by 157.7% during the fourth quarter. Morgan Stanley now owns 241,720 shares of the oil and gas producer’s stock worth $6,091,000 after acquiring an additional 147,931 shares during the last quarter. Institutional investors own 28.12% of the company’s stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian), and Waddell fields located in Crane County, Texas.