Permian Basin Royalty Trust (NYSE:PBT) Shares Shorted: Short Interest Up 535.1% in October

Permian Basin Royalty Trust (NYSE:PBT) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 1,764,223 shares, a growth of 535.1% from the September 30th total of 277,800 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average trading volume of 307,439 shares, the short-interest ratio is presently 5.7 days.

Permian Basin Royalty Trust Trading Up 0.6%

NYSE:PBT traded up $0.19 during trading hours on Wednesday, reaching $33.27. The company had a trading volume of 237,668 shares, compared to its average volume of 133,847. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 95.06 and a beta of 0.56. The firm’s 50 day moving average price is $33.95 and its 200-day moving average price is $26.55. Permian Basin Royalty Trust has a 52 week low of $16.25 and a 52 week high of $37.00.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings results on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share for the quarter. The firm had revenue of $4.18 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,990.08% and a net margin of 91.96%.

Permian Basin Royalty Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be issued a $0.0452 dividend. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.0196. This represents a $0.54 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, October 30th. Permian Basin Royalty Trust’s dividend payout ratio is currently 154.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. CX Institutional grew its stake in shares of Permian Basin Royalty Trust by 80.3% during the 2nd quarter. CX Institutional now owns 2,109 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 939 shares during the period. NewEdge Advisors LLC increased its position in shares of Permian Basin Royalty Trust by 25.1% during the 2nd quarter. NewEdge Advisors LLC now owns 3,493 shares of the oil and gas producer’s stock valued at $87,000 after purchasing an additional 701 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Permian Basin Royalty Trust in the 2nd quarter worth approximately $114,000. Post Resch Tallon Group Inc. bought a new position in shares of Permian Basin Royalty Trust in the 2nd quarter worth approximately $210,000. Finally, Tidal Investments LLC bought a new position in shares of Permian Basin Royalty Trust in the 2nd quarter worth approximately $211,000. 28.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Permian Basin Royalty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

About Permian Basin Royalty Trust

Permian Basin Royalty Trust (NYSE: PBT) is a grantor trust that holds interests in oil and natural gas properties located in the Permian Basin of West Texas. The trust does not explore for, develop, or operate properties itself. Instead, it receives proceeds generated from the production and sale of hydrocarbons from properties in which it owns royalty or net profits interests.

The trust’s principal interests include properties associated with the Waddell Ranch in Texas, as well as additional Texas royalty properties.