Permian Basin Royalty Trust (NYSE:PBT) Short Interest Up 106.3% in July

Key Points

• Short interest more than doubled to 288,002 shares by July 31, up 106.3% from mid-month and representing about 0.6% of outstanding shares. The short-interest ratio was 2.7 days based on average trading volume.
• Institutional investors own 28.86% of Permian Basin Royalty Trust, with several firms—including NewEdge Advisors, CX Institutional, and Bank of America—raising their positions.
• PBT received a consensus “Hold” rating, while its monthly dividend increased to $0.0436 per share. Shares recently traded at $32.66, near the stock’s 52-week high of $35.42.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 288,002 shares, an increase of 106.3% from the July 15th total of 139,629 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 105,060 shares, the short-interest ratio is currently 2.7 days.

Institutional Trading of Permian Basin Royalty Trust

A number of hedge funds have recently modified their holdings of PBT. Kestra Advisory Services LLC acquired a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth approximately $28,000. NewEdge Advisors LLC increased its position in shares of Permian Basin Royalty Trust by 53.1% during the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer's stock valued at $47,000 after purchasing an additional 1,304 shares during the period. CX Institutional raised its stake in shares of Permian Basin Royalty Trust by 80.3% in the second quarter. CX Institutional now owns 2,109 shares of the oil and gas producer's stock valued at $53,000 after purchasing an additional 939 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Permian Basin Royalty Trust by 27.0% in the second quarter. Bank of America Corp DE now owns 13,037 shares of the oil and gas producer's stock valued at $162,000 after purchasing an additional 2,769 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Permian Basin Royalty Trust by 6.0% in the fourth 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. Institutional investors own 28.86% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised Permian Basin Royalty Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold".

Permian Basin Royalty Trust Stock Down 2.5%

NYSE PBT traded down $0.83 during midday trading on Friday, hitting $32.66. The company had a trading volume of 141,433 shares, compared to its average volume of 153,221. The firm has a fifty day simple moving average of $28.14 and a two-hundred day simple moving average of $24.46. Permian Basin Royalty Trust has a fifty-two week low of $14.81 and a fifty-two week high of $35.42. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 93.33 and a beta of 0.48.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 91.96% and a return on equity of 9,980.02%. The business had revenue of $4.18 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.0436 per share. This is a positive change from Permian Basin Royalty Trust's previous monthly dividend of $0.02. This represents a c) annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, July 31st. Permian Basin Royalty Trust's dividend payout ratio is presently 162.50%.

About Permian Basin Royalty Trust

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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