Permian Basin Royalty Trust (NYSE:PBT) Short Interest Update

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 324,300 shares, an increase of 23.5% from the May 15th total of 262,500 shares. Based on an average daily trading volume, of 161,700 shares, the short-interest ratio is currently 2.0 days. Currently, 0.8% of the company's stock are sold short.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several large investors have recently modified their holdings of PBT. Atria Wealth Solutions Inc. purchased a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth approximately $127,000. Hosking Partners LLP increased its stake 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 purchasing an additional 67,858 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Permian Basin Royalty Trust by 45.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,467 shares of the oil and gas producer's stock worth $326,000 after purchasing an additional 9,179 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth approximately $622,000. Finally, OFI Invest Asset Management purchased a new position in Permian Basin Royalty Trust in the 4th quarter valued at approximately $1,327,000. Hedge funds and other institutional investors own 28.86% of the company's stock.

Permian Basin Royalty Trust Stock Performance

NYSE:PBT traded down $0.11 on Friday, hitting $11.96. The stock had a trading volume of 81,632 shares, compared to its average volume of 140,189. The stock has a market cap of $557.44 million, a P/E ratio of 24.41 and a beta of 0.56. Permian Basin Royalty Trust has a 1 year low of $8.01 and a 1 year high of $14.26. The firm's fifty day simple moving average is $10.66 and its two-hundred day simple moving average is $10.83.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a net margin of 93.60% and a return on equity of 12,661.40%. The company had revenue of $3.07 million during the quarter.

Permian Basin Royalty Trust Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.0188 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 2.01%. Permian Basin Royalty Trust's payout ratio is currently 44.90%.

Permian Basin Royalty Trust Company Profile

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.