Permian Basin Royalty Trust (NYSE:PBT) Shares Up 3.6%

Permian Basin Royalty Trust (NYSE:PBT)’s share price was up 3.6% during mid-day trading on Monday . The stock traded as high as $11.38 and last traded at $11.31. Approximately 38,448 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 126,818 shares. The stock had previously closed at $10.92.

Permian Basin Royalty Trust Stock Performance

The company has a market capitalization of $522.49 million, a P/E ratio of 18.08 and a beta of 0.57. The firm’s fifty day moving average is $11.18 and its 200 day moving average is $12.05.

Permian Basin Royalty Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.052 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.62 annualized dividend and a yield of 5.57%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 100.00%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Schwartz Investment Counsel Inc. grew its stake in Permian Basin Royalty Trust by 16.1% in the second quarter. Schwartz Investment Counsel Inc. now owns 1,140,169 shares of the oil and gas producer’s stock valued at $12,793,000 after purchasing an additional 158,500 shares during the last quarter. Foundation Resource Management Inc. boosted its position in Permian Basin Royalty Trust by 0.8% in the first quarter. Foundation Resource Management Inc. now owns 682,634 shares of the oil and gas producer’s stock valued at $8,260,000 after buying an additional 5,671 shares during the last quarter. Moors & Cabot Inc. increased its holdings in Permian Basin Royalty Trust by 23.3% in the 2nd quarter. Moors & Cabot Inc. now owns 460,087 shares of the oil and gas producer’s stock worth $5,181,000 after buying an additional 87,080 shares during the period. Mad River Investors raised its position in Permian Basin Royalty Trust by 4.6% during the 2nd quarter. Mad River Investors now owns 264,173 shares of the oil and gas producer’s stock worth $2,975,000 after buying an additional 11,726 shares during the last quarter. Finally, Beacon Pointe Advisors LLC lifted its stake in Permian Basin Royalty Trust by 2.8% during the 4th quarter. Beacon Pointe Advisors LLC now owns 147,246 shares of the oil and gas producer’s stock valued at $2,061,000 after acquiring an additional 4,023 shares during the period. Institutional investors 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.