Permian Basin Royalty Trust (NYSE:PBT) Sees Large Volume Increase – What’s Next?

Permian Basin Royalty Trust (NYSE:PBT) saw unusually-strong trading volume on Wednesday . Approximately 323,678 shares were traded during trading, an increase of 206% from the previous session’s volume of 105,640 shares.The stock last traded at $22.13 and had previously closed at $22.36.

Analyst Ratings Changes

Separately, Weiss Ratings cut Permian Basin Royalty Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 30th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Permian Basin Royalty Trust Stock Performance

The company’s 50 day moving average price is $21.23 and its 200 day moving average price is $19.21. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 70.12 and a beta of 0.41.

Permian Basin Royalty Trust (NYSE:PBT) last announced its quarterly earnings results on Friday, March 27th. The oil and gas producer reported $0.06 EPS for the quarter. Permian Basin Royalty Trust had a net margin of 89.06% and a return on equity of 8,774.67%. The company had revenue of $2.61 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be given a dividend of $0.038 per share. The ex-dividend date of this dividend is Thursday, April 30th. This is an increase from Permian Basin Royalty Trust’s previous monthly dividend of $0.01. This represents a c) dividend on an annualized basis and a yield of 2.0%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is currently 140.62%.

Institutional Trading of Permian Basin Royalty Trust

A number of institutional investors and hedge funds have recently modified their holdings of PBT. Geneos Wealth Management Inc. acquired a new stake in shares of Permian Basin Royalty Trust in the third quarter worth $27,000. Kestra Advisory Services LLC bought a new stake in Permian Basin Royalty Trust during the fourth quarter valued at about $28,000. Foster Dykema Cabot & Partners LLC bought a new stake in Permian Basin Royalty Trust during the third quarter valued at about $40,000. NewEdge Advisors LLC grew its position in shares of Permian Basin Royalty Trust by 53.1% in the second quarter. NewEdge Advisors LLC now owns 3,762 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 1,304 shares during the last quarter. Finally, Atlantic Union Bankshares Corp grew its position in shares of Permian Basin Royalty Trust by 16.2% in the third quarter. Atlantic Union Bankshares Corp now owns 7,582 shares of the oil and gas producer’s stock valued at $138,000 after purchasing an additional 1,058 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors and hedge funds.

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.