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

Permian Basin Royalty Trust (NYSE:PBT) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 147,500 shares, a drop of 19.7% from the March 31st total of 183,800 shares. Based on an average daily volume of 144,700 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its position in Permian Basin Royalty Trust by 21,188.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,916 shares of the oil and gas producer’s stock valued at $27,000 after acquiring an additional 1,907 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Permian Basin Royalty Trust by 222.0% in the 3rd quarter. Global Retirement Partners LLC now owns 2,618 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,805 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Permian Basin Royalty Trust by 1,296.0% during the 4th quarter. International Assets Investment Management LLC now owns 2,792 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 2,592 shares in the last quarter. Aristides Capital LLC bought a new position in Permian Basin Royalty Trust during the 4th quarter valued at about $163,000. Finally, Waverly Advisors LLC boosted its position in Permian Basin Royalty Trust by 30.4% in the third quarter. Waverly Advisors LLC now owns 12,867 shares of the oil and gas producer’s stock valued at $273,000 after buying an additional 3,001 shares in the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Trading Down 1.0 %

PBT traded down $0.12 during midday trading on Monday, reaching $12.08. The company’s stock had a trading volume of 103,760 shares, compared to its average volume of 144,429. The company has a fifty day simple moving average of $12.57 and a 200 day simple moving average of $14.91. The stock has a market cap of $562.82 million, a P/E ratio of 20.13 and a beta of 0.59. Permian Basin Royalty Trust has a twelve month low of $10.95 and a twelve month high of $25.62.

Permian Basin Royalty Trust (NYSE:PBT) last posted its quarterly earnings results on Thursday, February 29th. The oil and gas producer reported $0.31 EPS for the quarter. Permian Basin Royalty Trust had a return on equity of 13,667.19% and a net margin of 96.16%. The firm had revenue of $14.44 million during the quarter.

Permian Basin Royalty Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.0882 per share. This is a positive change from Permian Basin Royalty Trust’s previous monthly dividend of $0.04. This represents a $1.06 annualized dividend and a dividend yield of 8.77%. The ex-dividend date of this dividend is Monday, April 29th. Permian Basin Royalty Trust’s payout ratio is 83.33%.

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.