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

Permian Basin Royalty Trust (NYSE:PBT) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 239,832 shares, a growth of 224.4% from the April 30th total of 73,927 shares. Based on an average trading volume of 265,415 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.5% of the company’s shares are sold short.

Permian Basin Royalty Trust Stock Performance

Shares of PBT opened at $28.17 on Friday. The stock has a 50-day simple moving average of $24.11 and a 200-day simple moving average of $20.53. The stock has a market capitalization of $1.31 billion, a PE ratio of 88.02 and a beta of 0.42. Permian Basin Royalty Trust has a 1 year low of $10.80 and a 1 year high of $32.25.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings data on Thursday, May 14th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $3.57 million during the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a dividend of $0.0204 per share. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, May 29th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 143.75%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Permian Basin Royalty Trust presently has an average rating of “Hold”.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new stake in shares of Permian Basin Royalty Trust during the 4th quarter worth about $28,000. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter worth about $40,000. NewEdge Advisors LLC raised its position in shares of Permian Basin Royalty Trust by 53.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 1,304 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in shares of Permian Basin Royalty Trust by 16.2% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock worth $138,000 after acquiring an additional 1,058 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Permian Basin Royalty Trust by 6.0% during the 4th quarter. Royal Bank of Canada now owns 9,802 shares of the oil and gas producer’s stock worth $166,000 after acquiring an additional 558 shares in the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) is a passive investment vehicle that holds overriding royalty interests in oil and gas properties located in the Permian Basin region of West Texas. Established in 1980 by Apache Oil Company, the Trust does not engage in exploration or production activities. Instead, it owns net profit interests on specified acreage, allowing unitholders to participate directly in the cash flows generated by hydrocarbon extraction without bearing the costs or risks associated with day-to-day field operations.

The Trust’s interests cover acreage predominantly in Reeves and Loving Counties, where mature wells have been developed over several decades.