Short Interest in Permian Basin Royalty Trust (NYSE:PBT) Drops By 32.1%

Permian Basin Royalty Trust (NYSE:PBT) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 98,350 shares, a decrease of 32.1% from the March 15th total of 144,838 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 172,298 shares, the days-to-cover ratio is presently 0.6 days.

Permian Basin Royalty Trust Trading Up 2.7%

NYSE:PBT traded up $0.58 during trading hours on Thursday, hitting $22.22. The company’s stock had a trading volume of 141,362 shares, compared to its average volume of 172,461. The stock has a fifty day moving average of $20.56 and a 200-day moving average of $18.89. The stock has a market capitalization of $1.04 billion, a P/E ratio of 69.44 and a beta of 0.41. Permian Basin Royalty Trust has a 52-week low of $9.37 and a 52-week high of $22.71.

Permian Basin Royalty Trust (NYSE:PBT) last issued its quarterly earnings data on Friday, March 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $2.61 million for the quarter. Permian Basin Royalty Trust had a return on equity of 8,774.67% and a net margin of 89.06%.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.0107 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.6%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 53.13%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several hedge funds have recently made changes to their positions in PBT. Advisory Services Network LLC boosted its stake in shares of Permian Basin Royalty Trust by 327.9% during the second quarter. Advisory Services Network LLC now owns 246,391 shares of the oil and gas producer’s stock worth $3,299,000 after buying an additional 188,807 shares during the period. MOR Wealth Management LLC acquired a new stake in shares of Permian Basin Royalty Trust during the fourth quarter worth about $892,000. Mad River Investors boosted its stake in shares of Permian Basin Royalty Trust by 3.4% during the third quarter. Mad River Investors now owns 922,230 shares of the oil and gas producer’s stock worth $16,831,000 after buying an additional 30,313 shares during the period. HighTower Advisors LLC boosted its stake in shares of Permian Basin Royalty Trust by 75.4% during the third quarter. HighTower Advisors LLC now owns 71,093 shares of the oil and gas producer’s stock worth $1,298,000 after buying an additional 30,556 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Permian Basin Royalty Trust by 53.1% during the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after buying an additional 1,304 shares during the period. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Permian Basin Royalty Trust Company Profile

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.