Permian Basin Royalty Trust (NYSE:PBT) Trading 4.5% Higher – Here’s What Happened

Shares of Permian Basin Royalty Trust (NYSE:PBT) rose 4.5% on Monday . The company traded as high as $10.96 and last traded at $10.96. Approximately 152,378 shares traded hands during trading, an increase of 14% from the average daily volume of 134,029 shares. The stock had previously closed at $10.49.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Permian Basin Royalty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th.

Permian Basin Royalty Trust Price Performance

The company has a market cap of $516.44 million, a PE ratio of 14.21 and a beta of 0.66. The stock’s 50-day moving average is $12.06 and its 200 day moving average is $11.58.

Permian Basin Royalty Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.0219 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. This represents a $0.26 dividend on an annualized basis and a dividend yield of 2.38%. Permian Basin Royalty Trust’s dividend payout ratio is presently 33.33%.

Institutional Investors Weigh In On Permian Basin Royalty Trust

Several institutional investors have recently added to or reduced their stakes in PBT. Flow Traders U.S. LLC acquired a new position in shares of Permian Basin Royalty Trust during the third quarter valued at about $167,000. Independent Advisor Alliance acquired a new position in Permian Basin Royalty Trust during the 3rd quarter valued at approximately $837,000. Moors & Cabot Inc. raised its holdings in shares of Permian Basin Royalty Trust by 16.3% in the third quarter. Moors & Cabot Inc. now owns 535,151 shares of the oil and gas producer’s stock worth $6,363,000 after buying an additional 75,064 shares during the last quarter. EagleClaw Capital Managment LLC lifted its stake in shares of Permian Basin Royalty Trust by 2.3% during the third quarter. EagleClaw Capital Managment LLC now owns 41,375 shares of the oil and gas producer’s stock worth $492,000 after buying an additional 925 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Permian Basin Royalty Trust during the third quarter valued at $110,000. Institutional investors and hedge funds own 28.86% of the company’s stock.

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.