Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 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.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut Permian Basin Royalty Trust from a "buy" rating to a "hold" rating in a report on Thursday, February 20th.
Read Our Latest Analysis on PBT
Permian Basin Royalty Trust Stock Up 1.8%
The stock's 50 day moving average price is $10.17 and its 200-day moving average price is $10.94. The stock has a market capitalization of $521.55 million, a PE ratio of 14.35 and a beta of 0.56.
Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The firm 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 declared a dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.0188 per share. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 2.01%. Permian Basin Royalty Trust's dividend payout ratio is currently 44.90%.
Institutional Trading of Permian Basin Royalty Trust
A number of hedge funds have recently added to or reduced their stakes in PBT. Golden State Wealth Management LLC purchased a new position in Permian Basin Royalty Trust during the fourth quarter valued at approximately $27,000. JPMorgan Chase & Co. boosted its holdings in Permian Basin Royalty Trust by 88.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,782 shares of the oil and gas producer's stock valued at $53,000 after purchasing an additional 2,250 shares during the last quarter. Sunbelt Securities Inc. grew its position in Permian Basin Royalty Trust by 7,352.9% during the 1st quarter. Sunbelt Securities Inc. now owns 6,335 shares of the oil and gas producer's stock worth $63,000 after purchasing an additional 6,250 shares during the period. Stratos Wealth Partners LTD. purchased a new position in shares of Permian Basin Royalty Trust during the 4th quarter valued at about $121,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Permian Basin Royalty Trust in the 4th quarter valued at about $127,000. 28.86% of the stock is owned by hedge funds and other institutional investors.
About Permian Basin Royalty Trust
(
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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.
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