Permian Basin Royalty Trust (NYSE:PBT) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 316,200 shares, a growth of 18.6% from the September 30th total of 266,600 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 133,000 shares, the days-to-cover ratio is currently 2.4 days.

PBT traded down $0.12 on Thursday, reaching $3.85. 175,400 shares of the company’s stock were exchanged, compared to its average volume of 113,071. The stock has a market cap of $184.02 million, a PE ratio of 8.12 and a beta of 0.80. Permian Basin Royalty Trust has a twelve month low of $3.81 and a twelve month high of $8.50. The stock’s fifty day moving average price is $4.35 and its 200-day moving average price is $5.26.

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.0277 per share. The ex-dividend date is Wednesday, October 30th. This represents a $0.33 dividend on an annualized basis and a yield of 8.64%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. TRUE Private Wealth Advisors acquired a new position in Permian Basin Royalty Trust during the second quarter worth about $26,000. Venturi Wealth Management LLC acquired a new position in Permian Basin Royalty Trust during the third quarter worth about $35,000. Royal Bank of Canada boosted its position in Permian Basin Royalty Trust by 58.7% during the second quarter. Royal Bank of Canada now owns 8,086 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 2,990 shares during the last quarter. Tranquility Partners LLC acquired a new position in Permian Basin Royalty Trust during the second quarter worth about $69,000. Finally, LPL Financial LLC acquired a new position in Permian Basin Royalty Trust in the 2nd quarter valued at about $76,000. Hedge funds and other institutional investors own 9.55% of the company’s stock.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, University-Waddell, and Waddell fields located in Crane County, Texas.

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