Permian Basin Royalty Trust (NYSE:PBT) Sees Unusually-High Trading Volume

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 55,944 shares were traded during trading, a decline of 61% from the previous session's volume of 143,646 shares.The stock last traded at $12.54 and had previously closed at $12.41.

Permian Basin Royalty Trust Trading Up 0.1 %

The company has a market cap of $578.90 million, a price-to-earnings ratio of 20.70 and a beta of 0.59. The stock's 50-day moving average is $13.34 and its 200-day moving average is $16.15.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The oil and gas producer reported $0.31 earnings per share for the quarter. The firm had revenue of $14.44 million for the quarter. Permian Basin Royalty Trust had a net margin of 96.16% and a return on equity of 13,667.19%.

Permian Basin Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, April 12th. Shareholders of record on Thursday, March 28th will be issued a $0.041 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.49 annualized dividend and a yield of 3.96%. Permian Basin Royalty Trust's payout ratio is currently 83.33%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in Permian Basin Royalty Trust by 21,188.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the oil and gas producer's stock valued at $27,000 after purchasing an additional 1,907 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Permian Basin Royalty Trust by 87.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,461 shares of the oil and gas producer's stock valued at $36,000 after buying an additional 681 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Permian Basin Royalty Trust by 1,296.0% during the fourth quarter. International Assets Investment Management LLC now owns 2,792 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 2,592 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Permian Basin Royalty Trust by 222.0% during the third quarter. Global Retirement Partners LLC now owns 2,618 shares of the oil and gas producer's stock worth $51,000 after acquiring an additional 1,805 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Permian Basin Royalty Trust by 78.9% during the second quarter. JPMorgan Chase & Co. now owns 3,400 shares of the oil and gas producer's stock valued at $56,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 28.86% 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.