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

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Permian Basin Royalty Trust (NYSE:PBT) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 316,200 shares, an increase of 18.6% from the September 30th total of 266,600 shares. Based on an average daily volume of 133,000 shares, the short-interest ratio is presently 2.4 days. Currently, 0.7% of the shares of the company are sold short.

Shares of Permian Basin Royalty Trust stock traded down $0.12 during trading on Thursday, hitting $3.85. 175,400 shares of the company’s stock were exchanged, compared to its average volume of 113,071. The business has a 50-day simple moving average of $4.35 and a 200-day simple moving average of $5.26. Permian Basin Royalty Trust has a 52-week low of $3.81 and a 52-week high of $8.50. The stock has a market capitalization of $184.02 million, a price-to-earnings ratio of 8.12 and a beta of 0.80.

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.0277 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.33 annualized dividend and a dividend yield of 8.64%.

Institutional investors have recently modified their holdings of the stock. Foundation Resource Management Inc. raised its holdings in shares of Permian Basin Royalty Trust by 0.3% during the second quarter. Foundation Resource Management Inc. now owns 1,042,327 shares of the oil and gas producer’s stock worth $6,348,000 after purchasing an additional 2,627 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Permian Basin Royalty Trust by 4.9% during the second quarter. Advisor Group Inc. now owns 44,543 shares of the oil and gas producer’s stock worth $271,000 after purchasing an additional 2,068 shares during the last quarter. Tranquility Partners LLC purchased a new position in shares of Permian Basin Royalty Trust during the second quarter worth $69,000. LPL Financial LLC purchased a new position in shares of Permian Basin Royalty Trust during the second quarter worth $76,000. Finally, Morgan Stanley raised its holdings in shares of Permian Basin Royalty Trust by 48.1% during the second quarter. Morgan Stanley now owns 94,452 shares of the oil and gas producer’s stock worth $575,000 after purchasing an additional 30,681 shares during the last quarter. 9.55% of the stock is owned by hedge funds and other institutional investors.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust, an express trust, holds overriding royalty interests in various oil and gas properties in the United States. The company owns a 75% net overriding royalty interest in the Waddell Ranch properties comprising Dune, Judkins, McKnight, Tubb, University-Waddell, and Waddell fields located in Crane County, Texas.

Further Reading: What is a Leveraged Buyout (LBO)?

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