Permian Basin Royalty Trust (NYSE:PBT) Sees Large Volume Increase - What's Next?

Key Points

• Permian Basin Royalty Trust (PBT) saw trading rise about 10% to 90,089 shares and the stock moved up to $22.135 from a prior close of $21.01.
• The trust declared a monthly dividend of $0.0107 payable April 14 (ex-dividend March 31), implying an annualized yield of about 0.6% and a payout ratio of 50%.
• PBT’s market metrics include a market cap of $1.03 billion, a P/E of 65.31 and a beta of 0.43, with roughly 28.86% of shares held by institutional investors.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) shares saw strong trading volume on Tuesday . 90,089 shares were traded during trading, an increase of 10% from the previous session's volume of 82,268 shares.The stock last traded at $22.1350 and had previously closed at $21.01.

Permian Basin Royalty Trust Stock Performance

The company has a 50-day moving average of $19.41 and a 200-day moving average of $18.45. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 65.31 and a beta of 0.43.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 31st will be issued a $0.0107 dividend. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, March 31st. Permian Basin Royalty Trust's dividend payout ratio is 50.00%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PBT. Royal Bank of Canada boosted its stake in Permian Basin Royalty Trust by 6.0% in the 4th quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer's stock worth $166,000 after purchasing an additional 558 shares during the period. HighTower Advisors LLC raised its stake in shares of Permian Basin Royalty Trust by 0.8% in the 4th quarter. HighTower Advisors LLC now owns 71,697 shares of the oil and gas producer's stock valued at $1,217,000 after purchasing an additional 604 shares during the period. BWM Planning LLC raised its stake in shares of Permian Basin Royalty Trust by 0.6% in the 3rd quarter. BWM Planning LLC now owns 104,397 shares of the oil and gas producer's stock valued at $1,905,000 after purchasing an additional 672 shares during the period. Virtus Investment Advisers LLC lifted its holdings in shares of Permian Basin Royalty Trust by 7.1% in the second quarter. Virtus Investment Advisers LLC now owns 14,369 shares of the oil and gas producer's stock valued at $179,000 after purchasing an additional 949 shares in the last quarter. Finally, Atlantic Union Bankshares Corp lifted its holdings in shares of Permian Basin Royalty Trust by 16.2% in the third quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer's stock valued at $138,000 after purchasing an additional 1,058 shares in the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

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.

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