Permian Basin Royalty Trust (NYSE:PBT) Stock Price Down 3.7%

Permian Basin Royalty Trust (NYSE:PBT) was down 3.7% during mid-day trading on Tuesday . The stock traded as low as $12.33 and last traded at $12.33. Approximately 86,384 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 141,650 shares. The stock had previously closed at $12.81.

Permian Basin Royalty Trust Price Performance

The company has a market cap of $563.98 million, a price-to-earnings ratio of 20.17 and a beta of 0.60. The business’s fifty day moving average price is $13.45 and its 200 day moving average price is $16.35.

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

Permian Basin Royalty Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, April 12th. Investors of record on Thursday, March 28th will be given a dividend of $0.041 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.49 annualized dividend and a dividend yield of 4.07%. Permian Basin Royalty Trust’s payout ratio is 91.67%.

Institutional Trading of Permian Basin Royalty Trust

Several large investors have recently modified their holdings of the stock. Schwartz Investment Counsel Inc. boosted its holdings in Permian Basin Royalty Trust by 40.6% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 803,849 shares of the oil and gas producer’s stock worth $11,254,000 after acquiring an additional 232,000 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Permian Basin Royalty Trust during the 1st quarter worth approximately $1,934,000. Morgan Stanley raised its position in Permian Basin Royalty Trust by 157.7% in the 4th quarter. Morgan Stanley now owns 241,720 shares of the oil and gas producer’s stock valued at $6,091,000 after buying an additional 147,931 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of Permian Basin Royalty Trust in the third quarter valued at about $3,021,000. Finally, Pathstone Holdings LLC bought a new stake in Permian Basin Royalty Trust in the 4th quarter worth about $1,402,000. 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 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, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian), and Waddell fields located in Crane County, Texas.