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

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position 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 period. Golden State Wealth Management LLC raised its stake in shares of Permian Basin Royalty Trust by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,892 shares of the oil and gas producer's stock worth $48,000 after buying an additional 2,446 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of 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 buying an additional 6,250 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of Permian Basin Royalty Trust in the 4th quarter valued at approximately $127,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Permian Basin Royalty Trust by 16.1% in the fourth quarter. Ameriprise Financial Inc. now owns 11,688 shares of the oil and gas producer's stock valued at $128,000 after buying an additional 1,623 shares in the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Stock Up 0.2%

PBT traded up $0.03 on Wednesday, hitting $12.08. 134,356 shares of the company traded hands, compared to its average volume of 140,224. Permian Basin Royalty Trust has a 12-month low of $8.01 and a 12-month high of $14.26. The company has a 50 day moving average of $10.56 and a 200-day moving average of $10.84. The stock has a market capitalization of $563.05 million, a PE ratio of 24.65 and a beta of 0.56.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its 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 return on equity of 12,661.40% and a net margin of 93.60%. The business had revenue of $3.07 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a $0.0188 dividend. This represents a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, May 30th. Permian Basin Royalty Trust's dividend payout ratio (DPR) is presently 46.94%.

About Permian Basin Royalty Trust

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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