Permian Basin Royalty Trust (NYSE:PBT) Stock Price Down 5.2% – Here’s What Happened

Permian Basin Royalty Trust (NYSE:PBT) shares fell 5.2% on Tuesday . The stock traded as low as $17.51 and last traded at $17.5890. 48,882 shares changed hands during trading, a decline of 65% from the average session volume of 137,948 shares. The stock had previously closed at $18.55.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Permian Basin Royalty Trust in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Permian Basin Royalty Trust presently has a consensus rating of “Hold”.

Permian Basin Royalty Trust Trading Down 1.4%

The firm has a market capitalization of $823.02 million, a price-to-earnings ratio of 49.05 and a beta of 0.59. The business’s fifty day moving average price is $18.19 and its 200 day moving average price is $15.26.

Permian Basin Royalty Trust (NYSE:PBT) last released its quarterly earnings results on Thursday, November 13th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter. Permian Basin Royalty Trust had a return on equity of 9,737.65% and a net margin of 89.90%.The firm had revenue of $7.27 million for the quarter.

Permian Basin Royalty Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be paid a $0.0192 dividend. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, November 28th. Permian Basin Royalty Trust’s dividend payout ratio (DPR) is 67.65%.

Hedge Funds Weigh In On Permian Basin Royalty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. grew its stake in shares of Permian Basin Royalty Trust by 4,701.1% during the 2nd quarter. Bessemer Group Inc. now owns 96,021 shares of the oil and gas producer’s stock worth $1,196,000 after purchasing an additional 94,021 shares during the period. Horizon Kinetics Asset Management LLC increased its holdings in Permian Basin Royalty Trust by 41.3% in the second quarter. Horizon Kinetics Asset Management LLC now owns 5,839,825 shares of the oil and gas producer’s stock valued at $72,764,000 after buying an additional 1,705,498 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of Permian Basin Royalty Trust by 4.5% during the 2nd quarter. Moors & Cabot Inc. now owns 530,208 shares of the oil and gas producer’s stock valued at $6,606,000 after acquiring an additional 22,915 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of Permian Basin Royalty Trust during the 2nd quarter worth approximately $81,000. Finally, Promethium Advisors LLC grew its holdings in shares of Permian Basin Royalty Trust by 46.4% in the 1st quarter. Promethium Advisors LLC now owns 131,829 shares of the oil and gas producer’s stock worth $1,306,000 after acquiring an additional 41,797 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.