Permian Basin Royalty Trust (NYSE:PBT) Short Interest Update

Permian Basin Royalty Trust (NYSE:PBT) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 239,832 shares, a growth of 224.4% from the April 30th total of 73,927 shares. Based on an average trading volume of 265,415 shares, the short-interest ratio is currently 0.9 days. Approximately 0.5% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PBT. Creative Planning increased its position in Permian Basin Royalty Trust by 14.5% during the second quarter. Creative Planning now owns 14,995 shares of the oil and gas producer’s stock worth $187,000 after buying an additional 1,903 shares during the period. JPMorgan Chase & Co. increased its position in Permian Basin Royalty Trust by 2,233.8% during the second quarter. JPMorgan Chase & Co. now owns 104,298 shares of the oil and gas producer’s stock worth $1,300,000 after buying an additional 99,829 shares during the period. XTX Topco Ltd purchased a new position in shares of Permian Basin Royalty Trust in the 2nd quarter valued at approximately $188,000. NewEdge Advisors LLC grew its stake in shares of Permian Basin Royalty Trust by 53.1% in the 2nd 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, Raymond James Financial Inc. grew its stake in shares of Permian Basin Royalty Trust by 145.1% in the 2nd quarter. Raymond James Financial Inc. now owns 64,466 shares of the oil and gas producer’s stock valued at $803,000 after purchasing an additional 38,164 shares during the last quarter. Institutional investors and hedge funds own 28.86% of the company’s stock.

Permian Basin Royalty Trust Stock Down 5.0%

PBT opened at $28.17 on Friday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 88.02 and a beta of 0.42. Permian Basin Royalty Trust has a 52 week low of $10.80 and a 52 week high of $32.25. The business’s 50 day moving average is $24.11 and its two-hundred day moving average is $20.53.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.06 EPS for the quarter. The company had revenue of $3.57 million for the quarter. Permian Basin Royalty Trust had a return on equity of 9,061.81% and a net margin of 88.99%.

Permian Basin Royalty Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a dividend of $0.0204 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a yield of 0.9%. Permian Basin Royalty Trust’s payout ratio is 143.75%.

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.