Permian Basin Royalty Trust (NYSE:PBT) Stock Price Down 5.2% - Time to Sell?

Key Points

• The share price of Permian Basin Royalty Trust (NYSE:PBT) decreased by 5.2% during mid-day trading, closing at $15.56.
• The company announced an increase in its dividend to $0.0153 per share, representing a dividend yield of 145.0%.
• Institutional investors, including JPMorgan Chase & Co. and Golden State Wealth Management LLC, have significantly increased their holdings in the trust, reflecting growing interest in the stock.

Shares of Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) were down 5.2% during mid-day trading on Wednesday . The company traded as low as $15.55 and last traded at $15.56. Approximately 179,938 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 146,942 shares. The stock had previously closed at $16.42.

Permian Basin Royalty Trust Trading Down 2.0%

The firm has a market cap of $725.00 million, a PE ratio of 43.21 and a beta of 0.59. The stock has a 50 day simple moving average of $13.18 and a 200-day simple moving average of $11.33.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The oil and gas producer reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $3.11 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.

Permian Basin Royalty Trust Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a dividend of $0.0153 per share. This represents a yield of 145.0%. The ex-dividend date was Thursday, July 31st. This is a positive change from Permian Basin Royalty Trust's previous dividend of $0.01. Permian Basin Royalty Trust's payout ratio is currently 50.00%.

Institutional Trading of Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently modified their holdings of PBT. SoftVest Advisors LLC raised its stake in shares of Permian Basin Royalty Trust by 40.1% during the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer's stock valued at $77,335,000 after acquiring an additional 1,776,929 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in shares of Permian Basin Royalty Trust by 41.3% during the second quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer's stock valued at $72,764,000 after purchasing an additional 1,705,498 shares in the last quarter. Mad River Investors boosted its stake in shares of Permian Basin Royalty Trust by 91.5% during the first quarter. Mad River Investors now owns 471,693 shares of the oil and gas producer's stock valued at $4,674,000 after purchasing an additional 225,400 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Permian Basin Royalty Trust by 211.0% during the fourth quarter. Wells Fargo & Company MN now owns 233,493 shares of the oil and gas producer's stock valued at $2,587,000 after purchasing an additional 158,403 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. boosted its stake in shares of Permian Basin Royalty Trust by 7.2% during the first quarter. Schwartz Investment Counsel Inc. now owns 1,486,902 shares of the oil and gas producer's stock valued at $14,676,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors own 28.86% of the company's stock.

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.