Permian Basin Royalty Trust (NYSE:PBT) Trading 4.6% Higher – Here’s Why

Permian Basin Royalty Trust (NYSE:PBT) shares traded up 4.6% during mid-day trading on Tuesday . The stock traded as high as $12.76 and last traded at $12.75. 68,753 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 125,521 shares. The stock had previously closed at $12.19.

Permian Basin Royalty Trust Stock Up 1.3 %

The company has a market cap of $575.63 million, a PE ratio of 18.22 and a beta of 0.59. The firm has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $11.57.

Permian Basin Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.03 per share. This represents a $0.36 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, October 31st. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 52.94%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Access Investment Management LLC bought a new position in shares of Permian Basin Royalty Trust in the third quarter valued at approximately $97,000. International Assets Investment Management LLC grew its position in shares of Permian Basin Royalty Trust by 1,089.0% in the third quarter. International Assets Investment Management LLC now owns 8,323 shares of the oil and gas producer’s stock valued at $99,000 after purchasing an additional 7,623 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Permian Basin Royalty Trust in the third quarter valued at approximately $110,000. Avondale Wealth Management bought a new stake in shares of Permian Basin Royalty Trust during the 3rd quarter worth $113,000. Finally, Apollon Wealth Management LLC acquired a new stake in Permian Basin Royalty Trust in the third quarter valued at approximately $180,000. 28.86% of the stock is currently owned by institutional investors and hedge funds.

Permian Basin Royalty Trust Company Profile

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.