Permian Basin Royalty Trust (NYSE:PBT) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 309,600 shares, a decrease of 9.7% from the August 31st total of 343,000 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily volume of 94,600 shares, the days-to-cover ratio is presently 3.3 days.
Permian Basin Royalty Trust stock traded up $0.02 during trading on Friday, hitting $2.52. The company’s stock had a trading volume of 43,851 shares, compared to its average volume of 144,805. The stock has a market capitalization of $117.46 million, a price-to-earnings ratio of 6.15 and a beta of 1.00. The stock’s fifty day moving average is $2.80 and its 200 day moving average is $3.16. Permian Basin Royalty Trust has a 1-year low of $2.38 and a 1-year high of $5.01.
Permian Basin Royalty Trust (NYSE:PBT) last released its earnings results on Monday, August 10th. The oil and gas producer reported $0.04 EPS for the quarter. The firm had revenue of $2.45 million during the quarter. Permian Basin Royalty Trust had a return on equity of 4,477.47% and a net margin of 94.09%.
The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.012 dividend. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. This represents a $0.14 annualized dividend and a yield of 5.71%. The ex-dividend date is Tuesday, September 29th.
A number of institutional investors have recently added to or reduced their stakes in the stock. McGowan Group Asset Management Inc. increased its stake in Permian Basin Royalty Trust by 5.7% in the second quarter. McGowan Group Asset Management Inc. now owns 116,611 shares of the oil and gas producer’s stock valued at $385,000 after purchasing an additional 6,250 shares during the last quarter. California Public Employees Retirement System grew its position in Permian Basin Royalty Trust by 124.4% during the second quarter. California Public Employees Retirement System now owns 103,899 shares of the oil and gas producer’s stock valued at $343,000 after acquiring an additional 57,600 shares during the period. State Street Corp grew its position in Permian Basin Royalty Trust by 49.4% during the first quarter. State Street Corp now owns 76,696 shares of the oil and gas producer’s stock valued at $218,000 after acquiring an additional 25,361 shares during the period. Advisor Group Holdings Inc. purchased a new stake in Permian Basin Royalty Trust during the first quarter valued at about $52,000. Finally, Two Sigma Advisers LP grew its position in Permian Basin Royalty Trust by 11.6% during the first quarter. Two Sigma Advisers LP now owns 30,733 shares of the oil and gas producer’s stock valued at $87,000 after acquiring an additional 3,200 shares during the period. Hedge funds and other institutional investors own 6.83% of the company’s stock.
About Permian Basin Royalty Trust
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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