Permian Basin Royalty Trust (NYSE:PBT) Shares Down 5.2% – Should You Sell?

Shares of Permian Basin Royalty Trust (NYSE:PBT) were down 5.2% during mid-day trading on Tuesday . The company traded as low as $17.51 and last traded at $17.5890. Approximately 48,882 shares traded hands during trading, a decline of 65% from the average daily volume of 137,948 shares. The stock had previously closed at $18.55.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Permian Basin Royalty Trust Trading Down 4.5%

The business has a 50-day moving average price of $18.22 and a 200-day moving average price of $15.19. The firm has a market cap of $825.68 million, a P/E ratio of 49.21 and a beta of 0.59.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings data on Thursday, November 13th. The oil and gas producer reported $0.15 EPS for the quarter. The firm had revenue of $7.27 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.0192 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. Permian Basin Royalty Trust’s dividend payout ratio is presently 67.65%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PBT. SoftVest Advisors LLC raised its holdings in Permian Basin Royalty Trust by 40.1% in the 2nd quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock valued at $77,335,000 after buying an additional 1,776,929 shares during the period. Horizon Kinetics Asset Management LLC lifted its stake in Permian Basin Royalty Trust by 41.3% in the second quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer’s stock worth $72,764,000 after acquiring an additional 1,705,498 shares during the last quarter. Mad River Investors boosted its holdings in shares of Permian Basin Royalty Trust by 3.4% in the 3rd quarter. Mad River Investors now owns 922,230 shares of the oil and gas producer’s stock valued at $16,831,000 after buying an additional 30,313 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of Permian Basin Royalty Trust by 4.5% during the second quarter. Moors & Cabot Inc. now owns 530,208 shares of the oil and gas producer’s stock worth $6,606,000 after acquiring an additional 22,915 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Permian Basin Royalty Trust by 9.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 290,577 shares of the oil and gas producer’s stock worth $5,303,000 after acquiring an additional 24,853 shares during the period. Institutional investors and hedge funds own 28.86% of the company’s stock.

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.