Permian Basin Royalty Trust (NYSE:PBT) Short Interest Up 106.3% in July

Permian Basin Royalty Trust (NYSE:PBT) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 288,002 shares, a growth of 106.3% from the July 15th total of 139,629 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 105,060 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of Permian Basin Royalty Trust

A number of large investors have recently bought and sold shares of PBT. SoftVest Advisors LLC raised its stake in Permian Basin Royalty Trust by 40.1% during the second quarter. SoftVest Advisors LLC now owns 6,206,624 shares of the oil and gas producer’s stock worth $77,335,000 after acquiring an additional 1,776,929 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Permian Basin Royalty Trust by 116.0% in the 1st quarter. Sei Investments Co. now owns 422,000 shares of the oil and gas producer’s stock valued at $9,081,000 after purchasing an additional 226,600 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Permian Basin Royalty Trust by 2,233.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock valued at $1,300,000 after purchasing an additional 99,829 shares in the last quarter. UBS Group AG grew its holdings in shares of Permian Basin Royalty Trust by 170.1% in the 3rd quarter. UBS Group AG now owns 147,578 shares of the oil and gas producer’s stock worth $2,693,000 after purchasing an additional 92,936 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its holdings in shares of Permian Basin Royalty Trust by 1.5% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 6,187,800 shares of the oil and gas producer’s stock worth $105,069,000 after purchasing an additional 88,751 shares during the last quarter. 28.86% of the stock is currently owned by institutional investors.

Permian Basin Royalty Trust Stock Down 2.5%

PBT traded down $0.83 during midday trading on Friday, reaching $32.66. 141,433 shares of the company’s stock were exchanged, compared to its average volume of 153,221. The business has a 50-day simple moving average of $28.14 and a two-hundred day simple moving average of $24.46. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 93.33 and a beta of 0.48. Permian Basin Royalty Trust has a one year low of $14.81 and a one year high of $35.42.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings data on Thursday, August 13th. The oil and gas producer reported $0.08 earnings per share for the quarter. Permian Basin Royalty Trust had a return on equity of 9,980.02% and a net margin of 91.96%.The company had revenue of $4.18 million for the quarter.

Permian Basin Royalty Trust Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.0436 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a c) annualized dividend and a yield of 1.6%. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.02. Permian Basin Royalty Trust’s payout ratio is presently 162.50%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Permian Basin Royalty Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Permian Basin Royalty Trust presently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Company Profile

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.