Permian Basin Royalty Trust (NYSE:PBT) Sees Large Decline in Short Interest

Permian Basin Royalty Trust (NYSE:PBT) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 172,900 shares, a decline of 28.0% from the August 15th total of 240,100 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 108,800 shares, the days-to-cover ratio is presently 1.6 days.

Permian Basin Royalty Trust Price Performance

PBT stock opened at $11.39 on Friday. The firm has a 50 day moving average of $11.18 and a two-hundred day moving average of $11.85. Permian Basin Royalty Trust has a 12 month low of $10.14 and a 12 month high of $22.50.

Permian Basin Royalty Trust (NYSE:PBT) last posted its earnings results on Thursday, August 8th. The oil and gas producer reported $0.18 earnings per share for the quarter. The company had revenue of $8.83 million for the quarter. Permian Basin Royalty Trust had a return on equity of 15,940.96% and a net margin of 96.28%.

Permian Basin Royalty Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.052 per share. The ex-dividend date is Friday, August 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 5.48%. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is presently 100.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PBT. Wealth Enhancement Advisory Services LLC raised its stake in shares of Permian Basin Royalty Trust by 5.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 21,918 shares of the oil and gas producer’s stock valued at $247,000 after buying an additional 1,150 shares in the last quarter. PFG Investments LLC raised its position in Permian Basin Royalty Trust by 8.1% in the second quarter. PFG Investments LLC now owns 18,666 shares of the oil and gas producer’s stock worth $210,000 after purchasing an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in Permian Basin Royalty Trust by 3.8% during the second quarter. Commonwealth Equity Services LLC now owns 75,375 shares of the oil and gas producer’s stock worth $849,000 after purchasing an additional 2,761 shares during the period. Beacon Pointe Advisors LLC boosted its holdings in Permian Basin Royalty Trust by 2.8% during the fourth quarter. Beacon Pointe Advisors LLC now owns 147,246 shares of the oil and gas producer’s stock valued at $2,061,000 after purchasing an additional 4,023 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Permian Basin Royalty Trust by 18.5% in the 4th quarter. Russell Investments Group Ltd. now owns 28,802 shares of the oil and gas producer’s stock valued at $402,000 after purchasing an additional 4,498 shares during the period. Institutional investors and hedge funds own 28.86% of the company’s stock.

About Permian Basin Royalty Trust

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.