Permian Basin Royalty Trust (NYSE:PBT - Get Free Report)'s share price traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $15.55 and last traded at $15.56. 179,938 shares changed hands during trading, an increase of 22% from the average session volume of 146,942 shares. The stock had previously closed at $16.42.
Permian Basin Royalty Trust Stock Down 3.1%
The company has a market cap of $741.57 million, a PE ratio of 32.47 and a beta of 0.59. The stock's 50 day moving average is $12.89 and its 200-day moving average is $11.23.
Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The oil and gas producer reported $0.05 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%.
Permian Basin Royalty Trust Increases Dividend
The company also recently announced a dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a $0.0153 dividend. This is an increase from Permian Basin Royalty Trust's previous dividend of $0.01. This represents a dividend yield of 145.0%. The ex-dividend date of this dividend is Thursday, July 31st. Permian Basin Royalty Trust's payout ratio is currently 36.73%.
Institutional Investors Weigh In On Permian Basin Royalty Trust
Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of 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 worth $53,000 after purchasing an additional 2,250 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in 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 acquiring an additional 2,446 shares in the last quarter. Access Investment Management LLC bought a new position in Permian Basin Royalty Trust during the 2nd quarter worth about $64,000. Sunbelt Securities Inc. grew its holdings 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 acquiring an additional 6,250 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in Permian Basin Royalty Trust during the 2nd quarter worth about $81,000. Hedge funds and other institutional investors own 28.86% of the company's stock.
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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