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Permian Basin Royalty Trust (NYSE:PBT) Sees Strong Trading Volume - Time to Buy?

Permian Basin Royalty Trust logo with Energy background

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) shares saw strong trading volume on Tuesday . 1,191,902 shares were traded during mid-day trading, an increase of 814% from the previous session's volume of 130,439 shares.The stock last traded at $11.26 and had previously closed at $11.24.

Analyst Ratings Changes

Separately, Wall Street Zen cut Permian Basin Royalty Trust from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th.

View Our Latest Analysis on Permian Basin Royalty Trust

Permian Basin Royalty Trust Trading Down 1.4%

The company has a market cap of $509.44 million, a PE ratio of 14.01 and a beta of 0.56. The company has a fifty day simple moving average of $10.15 and a two-hundred day simple moving average of $10.96.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. The business had revenue of $3.07 million during the quarter. Permian Basin Royalty Trust had a return on equity of 17,811.24% and a net margin of 96.32%.

Permian Basin Royalty Trust Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, June 2nd will be given a $0.0188 dividend. This represents a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, May 30th. Permian Basin Royalty Trust's dividend payout ratio is presently 44.90%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PBT. Stratos Wealth Partners LTD. purchased a new position in Permian Basin Royalty Trust in the fourth quarter valued at $121,000. Golden State Wealth Management LLC acquired a new position in shares of Permian Basin Royalty Trust during the 4th quarter worth about $27,000. Atlas Wealth Partners LLC increased its holdings in shares of Permian Basin Royalty Trust by 4.0% in the 4th quarter. Atlas Wealth Partners LLC now owns 66,098 shares of the oil and gas producer's stock valued at $730,000 after acquiring an additional 2,542 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth about $127,000. Finally, Hosking Partners LLP raised its position in shares of Permian Basin Royalty Trust by 28.3% during the 4th quarter. Hosking Partners LLP now owns 307,551 shares of the oil and gas producer's stock worth $3,408,000 after acquiring an additional 67,858 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

(Get Free Report)

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.

See Also

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